TORONTO, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Ruben Shiffman announces that he has filed an early warning report in respect of his holdings in Greenland Resources Inc. (“Greenland”) as a result of the acquisition of 2,000,000 common shares of Greenland by Mr. Shiffman (the “Share Acquisition”).
On December 31, 2020 Mr. Shiffman was issued 2,000,000 common shares of Greenland, at a deemed value of $0.25 per common share, in exchange for services rendered. This acquisition brings the total holdings of Mr. Shiffman to 11,950,000 common shares, approximately 16.1% of the current 74,253,030 issued and outstanding common shares of Greenland. This issuance represents an acquisition by Mr. Shiffman of approximately 2.7% of the current issued and outstanding common shares of Greenland.
Additionally, at the time of the filing of the previous Early Warning Report by Mr. Shiffman, dated June 5, 2014, he was noted as holding 6,550,000 common shares of Greenland, representing approximately 31.2% of the then issued and outstanding common shares of Greenland. Since the time of said filing, Greenland’s capital increased from approximately 21,025,000 common shares on June 5, 2014 to approximately 74,253,030 common shares as of the date of this report. As a result, Mr. Shiffman’s security holding percentage interest in Greenland has decreased as a result of dilution. Mr. Shiffman currently holds 11,950,000 Common Shares which represents approximately 16.1% of the outstanding common shares of Greenland.
Mr. Shiffman currently owns or controls 11,950,000 common shares, representing approximately16.15% of the issued and outstanding Common Shares after giving effect to the Share Acquisition.
Mr. Shiffman reviews his holdings from time to time and may increase or decrease his position as future circumstances may dictate.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated February 24, 2021. The early warning report has been filed on the System for Electronic Document Analysis and Review (“SEDAR”) under Greenland’ issuer profile at https://www.sedar.com/.
For more information, or to obtain a copy of the early warning report filed by Mr. Shiffman, please contact:
Ruben Shiffman
rs@greenlandresourcesinc.com