DENVER, May 18, 2021 /CNW/ - RCF Opportunities Fund L.P. ("RCF") reports that on May 17, 2021, it acquired ownership and control of 1,171,531 units (the "Units") of Inflection Resources Ltd. ("Inflection") pursuant to the closing of a non-brokered private placement (the "Private Placement"). RCF acquired the Units at a price of CDN$0.32 per Unit for a total purchase price of CDN$374,889.92. Each Unit consists of one common share of Inflection (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for a period of two years following the closing date of the Private Placement at a price of CDN$0.50.
Prior to the closing of the Private Placement, RCF owned and controlled (i) 5,434,909 Common Shares, representing approximately 9.48% of the issued and outstanding Common Shares prior to the closing of the Private Placement, and (ii) 4,760,909 Warrants, representing 16.49% of the issued and outstanding Warrants prior to the closing of the Private Placement. Assuming the exercise of all of the Warrants held by RCF prior to the closing of the Private Placement, an aggregate of 10,195,818 Common Shares would have been owned and controlled by RCF, representing approximately 16.41% of Inflection's issued and outstanding Common Shares.
Immediately following the closing of the Private Placement, RCF owns and controls a total of (i) 6,606,440 Common Shares, representing approximately 9.26% of Inflection's issued and outstanding Common Shares, and (ii) 5,346,674 Warrants, representing approximately 14.91% of the issued and outstanding Warrants of Inflection. Assuming the exercise of all of the Warrants held by RCF, an aggregate of 11,953,204 Common Shares would be owned and controlled by RCF, representing approximately 14.06% of Inflection's issued and outstanding Common Shares.
RCF acquired the Units for investment purposes. RCF may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Inflection.
Inflection's head office is located at Suite 1210 – 1130 West Pender Street, Vancouver, British Columbia, V6E 4A4.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Inflection's profile on the SEDAR website www.sedar.com.
About RCF Opportunities Fund L.P.
RCF is a private investment fund existing under the laws of the Cayman Islands.
SOURCE RCF Opportunities Fund L.P.
View original content: http://www.newswire.ca/en/releases/archive/May2021/18/c3526.html