Moments ago, Hunt Gold Corp. announced that its Joint Venture Company, a partnership between Hunt Gold and a Mining Fund to acquire shares of HGLC, acquired another 800,000,000 “free trading” shares of the company’s common stock from another Seller yesterday at a price of $0.000075 per share. That seller is no longer offering the shares in the market.
Total purchases to date by the Joint Venture Company now total to 2,603,863,000 shares of “free trading” common stock. All purchases by the Joint Venture Company were transacted “off market” to eliminate brokerage costs and avoid distortion of trading volumes. The purchases to date have been settled in cash.
Hunt Gold management emphasized that the seller was being forced to dispose of these shares due to financial pressures beyond the seller’s control and was made fully aware that if they were able to hold them for a longer period of time, they would have achieved a far greater price per share.
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