Michael Gentile Announces Filing of Early Warning Report Related to Acquisition of Units of Leviathan Gold Ltd

Rhea-AI Summary

Michael Gentile has announced the acquisition of 5,250,000 units of Leviathan Gold (LVXFF) through a non-brokered private placement. Each unit consists of one common share and one-half of one Common Share purchase warrant. The warrants allow holders to acquire additional shares at $0.15 per share within 24 months of issuance.

Following the acquisition, Gentile now owns 5,250,000 Common Shares and 2,625,000 Warrants, representing approximately 8.549% of the company's outstanding shares on an undiluted basis and 12.29% on a partially diluted basis. Prior to this transaction, Gentile held no securities in the company.

The investment is described as long-term, with Gentile indicating potential future transactions depending on market conditions and other factors.

Positive

• Significant strategic investment by Michael Gentile acquiring 8.549% ownership stake
• Long-term investment commitment indicated by the investor
• Successful completion of non-brokered private placement strengthening shareholder base

Negative

• Potential future share dilution if warrants are exercised
• Possible stock price pressure if investor decides to sell shares in the future

Toronto, Ontario--(Newsfile Corp. - April 11, 2025) - Michael Gentile announces that he has filed an early warning report (the "Report") in connection with the acquisition (the "Acquisition") of an aggregate of 5,250,000 units (the "Units") in the capital of Leviathan Gold Ltd. (the "Company") in the Company's non-brokered private placement.

Each Unit was comprised of one common share (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant entitles the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.15 per Common Share for a period of 24 months from the date of issuance.

Prior to the completion of the Acquisition, Mr. Gentile did not beneficially own or control, directly or indirectly, any securities of the Company. Following the completion of the Acquisition, Mr. Gentile beneficially owns and controls, directly or indirectly, an aggregate of 5,250,000 Common Shares and 2,625,000 Warrants, representing approximately 8.549% of the Company's issued and outstanding on an undiluted basis and approximately 12.29% on a partially diluted basis.

The Common Shares were acquired for investment purposes. Mr. Gentile has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell the Common Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

For further details relating to the Acquisition, please see the Report, a copy of which is available on SEDAR+, or by contacting Michael Gentile at (514) 591-4227.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248141

FAQ

What percentage of Leviathan Gold (LVXFF) does Michael Gentile now own after the recent acquisition?

Michael Gentile now owns 8.549% of LVXFF on an undiluted basis and 12.29% on a partially diluted basis.

How many units did Michael Gentile acquire in Leviathan Gold's (LVXFF) private placement?

Michael Gentile acquired 5,250,000 units in LVXFF's non-brokered private placement.

What is the exercise price and expiration period for the LVXFF warrants acquired by Michael Gentile?

The warrants have an exercise price of $0.15 per share and expire 24 months from the date of issuance.

How many warrants did Michael Gentile receive in the LVXFF private placement?

Michael Gentile received 2,625,000 warrants as part of the unit acquisition.