Early Warning Disclosure
November 9, 2020
Michael Carr, President, CEO, Corporate Secretary and a director of Bitterroot Resources Ltd. (BTT, TSX-V), (the “Company”), announces that he has acquired beneficial ownership of, or control or direction over, 1,428,571 shares of the Company pursuant to the exercise of warrants previously issued on May 8, 2020 pursuant to a private placement.
Following the exercise of the warrants, Mr. Carr beneficially owns or has control or direction over a total of 7,648,803 Common Shares, 200,000 Common Share purchase warrants of the Company exercisable to acquire an additional 200,000 Common Shares, and 1,300,000 stock options of the Company exercisable to acquire up to an additional 1,300,000 Common Shares. As a result of the acquisition, Mr. Carr’s beneficial ownership of, or control or direction over, the Common Shares increased from 13.13% to 15,64% on a non-diluted basis, but remains unchanged at 18.19% on a partially-diluted basis, assuming the exercise of the Common Share purchase warrants and stock options held by Mr. Carr. As a result of this warrant exercise, Mr. Carr acquired securities in an amount equal to 2% or more of the issued and outstanding Common Shares on a non-diluted basis. Mr. Carr acquired ownership of, and control over, the securities that triggered the requirement to file an early warning report and the early warning disclosure in this news release pursuant to the exercise of warrants.
Mr. Carr acquired the securities of the Company for investment purposes only and Mr. Carr may increase or decrease his beneficial ownership or control of securities in the Company as circumstances arise. For further information or to obtain a copy of the early warning report filed on SEDAR, pursuant to National Instrument 62-103, please contact Mr. Carr by telephone at 604 922-1351 or by email at moc.secruosertoorrettib@namofni. The Company’s and Mr. Carr’s office is located at Suite 206 – B, 1571 Bellevue Avenue, West Vancouver, BC, V7V 1A6.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Michael S. Carr
Telephone 604 922 1351
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.