Toronto, Ontario–(Newsfile Corp. – July 24, 2017) – Gunpowder Capital Corp., (CSE: GPC) (CSE: GPC.PR.A) (OTC Pink: GNPWF) (FSE: YS6N) (“Gunpowder” or the “Corporation”) announced today that it has received Three Million (“3,000,000”) Common Shares of Advantagewon Oil Corp., (CSE: AOC) as payment for the consulting and advisory services Gunpowder provided Advantagewon in its successfully completed “go public” endeavor. All common shares issued in connection with this transaction will be subject to a four month plus one day hold period under applicable Canadian securities laws.
At the time of dissemination of this press release, Gunpowder owned Four Million, Six Hundred and Sixty-Six Thousand, Six Hundred and Sixty-Seven (“4,666,667”) Common Shares of Advantagewon Oil Corp., which represents approximately a 2.5% ownership stake in Advantagewon Oil Corp.
As previously disclosed, via press release, on July 6th, 2017, Gunpowder will issue a dividend in kind of One Million, Six Hundred and Sixty-Six Thousand, Six Hundred and Sixty-Seven (“1,666,667”) Advantagewon Common Shares to all Gunpowder Common Share shareholders on July 31st, 2017 to Gunpowder Common Share shareholders who are shareholders of record on July 14th, 2017.
Upon completion of the dividend distribution, Gunpowder will still own 3,000,000 Common Shares of Advantagewon which will reduce Gunpowder’s ownership stake in Advantagewon to approximately 1.6%.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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