TORONTO, March 2, 2018 /CNW/ - This news release is
disseminated pursuant to National Instrument 62-103 The Early
Warning System and Related Take Over Bids and Insider Reporting
Issues in connection with the filing of an early warning report
(the "Early Warning Report") regarding the holdings
William F. White (the
"Acquiror"). The Acquiror has acquired beneficial ownership
or control over 18,107,160 common shares ("Shares") of Peat
Resources Limited with head offices at 365 Bay Street, Suite 400,
Toronto, ON, M5H 2V1 (the
"Company" or "Peat") through a shares for debt
settlement among the Acquiror and other non-related creditors of
the Company on March 2, 2018 (the
"Debt Settlement").
The aggregate number Shares over which the Acquiror acquired
ownership amounts to 17.31% of the issued and outstanding Shares of
the Company.
The Acquiror previously owned 6,981,390 Shares, which
represented 5.59% of the issued and outstanding Shares of the
Company. Following closing of the Debt Settlement, the Acquiror
owns 25,088,550 Shares, which represent 17.31% of the issued and
outstanding Shares of the Company, which is an increase of
11.72%.
As part of the Debt Settlement among the Acquiror and other
non-related creditors of the Company, the Acquiror converted
$905,358 in debt in exchange for
18,107,160 Shares issued to the Acquiror at a price of $0.05 per share.
The Acquiror and the joint actors have previously acquired the
securities in the Company for investment purposes and from time to
time the Acquiror and any of the joint actors may: (i) acquire
additional securities of the Company, (ii) dispose of some or all
of the existing or additional securities they hold or may hold or
(iii) they may continue to hold their current position.
The issuance of this press release is not an admission that an
entity named herein owns or controls any securities described
herein or is a joint actor with any other person or company named
in the early warning report referred to in this press release.
To obtain a copy of the Early Warning Report filed in connection
with this matter, please contact William F.
White at williamfwhite@gmail.com. A copy of the Early
Warning Report will be filed on Peat's profile on SEDAR at
www.sedar.com.
SOURCE William F. White