Executive Chairman Increases Stake to More Than 15% of Zacapa Resources
Zacapa Resources Ltd. (TSXV: ZACA, OTCQB: ZACAF, DE: BH0) (“Zacapa”) is pleased to announce that Ian Slater, Executive Chairman, has acquired 5,600,000 additional common shares of Zacapa (“Zacapa Shares“) in the market on November 25 and 28, 2022. Mr. Slater now has beneficial ownership of, and control and discretion over, directly or indirectly through Slater Capital Corporation, 10,000,000 Zacapa Shares, or approximately 15.9% of the issued and outstanding Zacapa Shares. If Mr. Slater exercises all of the 1,511,110 warrants of Zacapa and the 500,000 options of Zacapa owned by him, he will have beneficial ownership of, and control and discretion over, directly or indirectly, 12,011,110 Zacapa Shares, or 19% of the then issued and outstanding Zacapa Shares, assuming no other convertible securities of Zacapa are exercised and no other Zacapa Shares are issued.
Mr. Slater acquired beneficial ownership of, and control or discretion over, the Zacapa Shares and warrants of Zacapa for investment purposes and intends to review his investment in Zacapa on a continuing basis. Mr. Slater plans to continue to acquire additional securities in Zacapa, both directly and indirectly.
About Zacapa Resources
Zacapa is a mineral exploration company engaged in responsible exploration for the new energy economy. Its projects are concentrated in world class jurisdictions in the southwest U.S., including Arizona, Nevada, and Idaho. The portfolio includes porphyry copper projects at Red Top and Pearl and epithermal gold projects at South Bullfrog and Miller Mountain. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development and mine permitting.
On behalf of the Board of Directors,
Adam Melnik Michelle Borromeo
Chief Executive Officer & Director Vice President Investor Relations
+1 604 227 5987 +1 778 330 3835
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