Humboldt Acquires Significant Stake in Diaz Resources Ltd.

Strategic Insights -

Humboldt, a company controlled by Robert W. Lamond, has made a substantial investment in Diaz Resources Ltd., acquiring 519,500 Class A Subordinate Voting Shares and options to purchase a further 250,000 Class A Subordinate Voting Shares and 107,500 Class B Multiple Voting Shares. This acquisition represents a significant increase in Mr. Lamond's stake in Diaz, with the possibility of reaching a controlling shareholding if the options are exercised. The investment is described as being for purposes, with the potential for further market purchases or other means to increase ownership or control.

Key Takeaways:

  • Humboldt acquired 519,500 Class A Subordinate Voting Shares of Diaz Resources Ltd. on the Vancouver Stock Exchange for an undisclosed amount.
  • The company also acquired options to purchase a further 250,000 Class A Subordinate Voting Shares and 107,500 Class B Multiple Voting Shares of Diaz.
  • As a result of the acquisition, Mr. Lamond's companies own 3,922,362 Class A Subordinate Voting Shares and options to purchase a further 350,000 Class A Subordinate Voting Shares, representing 54.3% of the outstanding Class A Subordinate Voting Shares.
  • Additionally, they own 3,510,361 Class B Multiple Voting Shares, representing 56.0% of the outstanding Class B Multiple Voting Shares.
  • The acquisition is for investment purposes, with the possibility of increasing beneficial ownership or control through market purchases or other means.
  • R.W. Lamond is the Chairman of the Board of Humboldt and holds approximately 60% of the outstanding shares of the company.
  • The Vancouver Stock Exchange has neither approved nor disapproved the information contained in the announcement.

Statistics:

  • 519,500 Class A Subordinate Voting Shares acquired on the Vancouver Stock Exchange
  • 250,000 Class A Subordinate Voting Shares and 107,500 Class B Multiple Voting Shares: options to purchase
  • 3,922,362 Class A Subordinate Voting Shares: outstanding shares owned by Mr. Lamond's companies
  • 350,000 Class A Subordinate Voting Shares: options to purchase that would increase ownership
  • 54.3%: percentage of outstanding Class A Subordinate Voting Shares owned by Mr. Lamond's companies
  • 3,510,361 Class B Multiple Voting Shares: outstanding shares owned by Mr. Lamond's companies
  • 56.0%: percentage of outstanding Class B Multiple Voting Shares owned by Mr. Lamond's companies

Sources:

  • Humboldt press release (1998, June 22)