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Deutsche Balaton Announces Filing of Early Warning Report

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  • BDGCF

HEIDELBERG, Germany., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Deutsche Balaton Aktiengesellschaft (“DB”) together with its joint actor DELPHI Unternehmensberatung Aktiengesellschaft (“DELPHI“) have acquired 10,714,290 CHESS Depositary Interests (“CDIs”) of Black Dragon Gold Corp (ASX: BDG) (“Company”) at A$ 0.056 per CDI through a private placement of the Company (“Transaction”) for a total consideration of approximately C$549,261. For every two CDIs subscribed DB and DELPHI received one free attaching option (“Option”), with each option having an exercise price of A$0.10 and expiry date of 2 years from the date of the issue. The Options will be subject to approval at the Company’s next General Meeting.

As a result of the Transaction (i) DB has ownership and control of 15,592,147 CDIs and 3,224,645 Options and DELPHI has ownership and control of 10,311,500 CDIs and 2,132,500 Options, together representing approximately 15.3 % of the issued and outstanding CDIs of the Company, calculated on a non-diluted basis immediately after the transaction, and (ii) assuming approval of the Options at the Company’s next General Meeting and exercise in full of all of the Options, DB has ownership and control of 18,816,792 CDIs and DELPHI has ownership and control of 12,444,000 CDIs, together representing approximately 17.9 % of the issued and outstanding CDIs of the Company, calculated on a partially diluted basis immediately after the transaction.

Prior to the Transaction DB had ownership and control of 9,142,857 CDIs, representing approximately 6.7 % of the issued and outstanding CDIs of the Company, and DELPHI had ownership and control of 6,046,500 CDIs, representing approximately 4.4 % of the issued and outstanding CDIs of the Company. Together, prior to the placement DB and DELPHI had ownership and control of 15,189,357 CDIs, representing approximately 11.2 % of the issued and outstanding CDIs.

The acquisition was made solely for investment purposes. In accordance with applicable securities laws, DB and DELPHI may, from time to time and at any time, acquire additional CDIs and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Company in the open market or otherwise, and DB and DELPHI reserve the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors.

DB was incorporated in Germany. DB’s principal business is to invest its own funds.

For further details relating to the Transaction, please see the Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Company’s profile on the SEDAR website at www.sedar.com, or may be obtained from Deutsche Balaton Aktiengesellschaft, Rolf Birkert (Member of the Board), +49 6221 649240, info@deutsche-balaton.de.


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