PowerOne Capital Corp Acquires Shares of White Gold Corp.

TORONTO, Oct. 29, 2019 (GLOBE NEWSWIRE) -- PowerOne Capital Corp., a joint actor (the “Joint Actor”) of Pat DiCapo (the “Acquiror”) announces that on October 27, 2019 it acquired ownership and control of securities of White Gold Corp. (“White Gold”) through the exercise of common share purchase warrants (“Warrants”) due to expire on October 27, 2019 into common shares (“Shares”) of White Gold (the “Transaction”). 

The Joint Actor exercised 5,650,000 Warrants at a price of $0.27 per Share for aggregate proceeds of $1,525,500 as part of the Transaction.  The Shares acquired by the Joint Actor represent approximately 4.51% of the outstanding Shares on a partially diluted basis as of October 27, 2019. 

Immediately prior to the Transaction, the Acquiror owned 6,600,000 Shares and 925,000 options, and the Joint Actor held 5,750,000 Shares and 5,650,000 Warrants which resulted in the Acquiror, together with the Joint Actor, owning an aggregate of 18,925,000 Shares or 15.11% of the outstanding Shares on a partially diluted basis assuming the exercise of all Warrants and options by the Acquiror and the Joint Actor, as applicable.

Immediately following the Transaction, the Acquiror owned 6,600,000 Shares and 925,000 options, and the Joint Actor held 11,400,000 Shares and nil Warrants which resulted in the Acquiror, together with the Joint Actor, owning an aggregate of 18,925,000 Shares or 15.11% of the outstanding Shares on a partially diluted basis assuming the exercise of all options by the Acquiror.

The Joint Actor acquired the Shares for investment purposes, and the Acquiror and Joint Actor may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over additional securities of the securities or otherwise.  Neither the Acquiror nor the Joint Actor have any plans related to any of the matters in the enumerated list in Item 5.1 of Form 62-103F1.

To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:

Hugh Ferreira
DSA Filing Services Limited
The Canadian Venture Building
82 Richmond St East, Suite 200
Toronto, Ontario M5C 1P1
T 416-848-7601 | C 416-316-3876