Press release from Newsfile Corp
Paradox Basin Resources Corp. Files Early Warning Report With Respect to Holdings in Sennen Potash Corporation
Friday, December 20, 2013
Paradox Basin Resources Corp. Files Early Warning Report With Respect to Holdings in Sennen Potash Corporation16:30 EST Friday, December 20, 2013
Toronto, Ontario--(Newsfile Corp. - December 20, 2013) - Paradox Basin Resources Corp. ("Paradox") has filed an early warning report, as required by National Instrument 62-103 - "The Early Warning System and Related Takeover Bid and Insider Reporting Issues" in relation to its holdings in TSXV-listed Sennen Potash Corporation (TSXV: SN) ("Sennen"). The Early Warning Report was filed following Paradox's receipt of an additional 10,000,000 Sennen common shares pursuant to the terms of the Monument Property Option Agreement (the "Option Agreement") between the parties.
Paradox now holds 12,180,869 common shares of Sennen representing 11.0% of the issued and outstanding common shares of Sennen. Directors and Officers of Paradox own an aggregate of 7,099,816 common shares of Sennen representing 6.4% of the issued and outstanding common shares of Sennen. Paradox and its Directors and Officers, in aggregate, own 19,280,685 common shares of Sennen representing 17.3% of the issued and outstanding common shares of Sennen.
The Company acquired the securities of Sennen for investment purposes only, and not for the purpose of influencing control or direction over Sennen. The Company will continue to review its holdings in Sennen from time to time, and may increase or decrease its position as future circumstances dictate.
A copy of the Early Warning Report has been filed with the applicable securities commissions and is available on the SEDAR website at www.sedar.com. For further information, or to obtain a copy of the Early Warning Report please contact the undersigned.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this press release.
On behalf of the board of directors of PARADOX BASIN RESOURCES CORP.
Carl DiPlacido, President and CEO