|By Marketwired .||
|May 23, 2014 06:41 PM EDT||
MONTREAL, CANADA -- (Marketwired) -- 05/23/14 -- Affinor Resources (CSE: AFI)(FRANKFURT: 1AF)(PINKSHEETS: RSSFF) ("Affinor" or the "Corporation) reports that Mr. Nick Brusatore, Suite 3 - 130 Brewstreet, Port Moodie, BC V3H 0E3, announced that he has acquired an aggregate of 2,500,000 common shares of the Corporation (each a "Share") at a price of $0.3525 per Share pursuant to upon the exchange of all its securities of 09571-2 BC Ltd., in connection with the completion of the Corporation's acquisition of 09571-2 BC Ltd., for an aggregate acquisition cost of $881,250. They are currently 60,953,898 Shares issued and outstanding.
Prior to the acquisition of these Shares, Mr. Brusatore held directly and indirectly 13,700,000 Shares, 2, 200,000 Share purchase warrants (each a "Warrant") and 1,000,000 options, representing approximately 23.54% of Affinor's issued and outstanding capital on an undiluted basis and 27.53% on a partially diluted basis. As a result of this acquisition, Mr. Brusatore now holds directly and indirectly 16,200,000 Shares, 2, 200,000 Share purchase warrants and 1,000,000 options, representing approximately 26.58% of Affinor's issued and outstanding capital on an undiluted basis and 30.24% on a partially diluted basis. Of the total securities holding in Affinor, 12,500,000 Shares and 1,000,000 are held directly by Mr. Brusatore and 3,700,000 Shares and 2,200,000 Warrants indirectly through Vertical Designs Ltd. All securities are held for investment purposes. Mr. Brusatore may in the future take such actions in respect of its Shares and other as he deems appropriate in light of the market circumstances then existing, including the potential purchase of additional Shares through open market purchases or privately negotiated transactions, or the sale of all or portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.
There are no persons acting jointly or in concert with Mr. Brusatore with respect to Mr. Brusatore's shareholdings in Affinor, nor has Mr. Brusatore entered into any agreements in respect of its shareholdings in Affinor with any person with which Mr. Brusatore acts jointly or in concert.
The above information has been provided to the Corporation by Mr. Brusatore for inclusion in this news release.
This news release is issued pursuant to Multilateral Instrument 62-104, which also requires a report to be filed with the Quebec, Ontario, British Columbia and Alberta Securities Commissions containing information with respect to the foregoing matters.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release