Early Warning Report Issued Pursuant to National Instrument 62-103 in Relation to Philippine Metals Inc.
Vancouver, May 25, 2018 - Marshall Farris announces that on May 24, 2018, pursuant to a purchase made via the TSX Venture Exchange, he purchased 250,000 common shares of Philippine Metals Inc. (the "Company"), at a price of $0.06 per share for an aggregate purchase price of $15,000. Prior to the acquisitions of the shares noted above, Mr. Farris owned an aggregate 1,527,598 shares of the Company, representing approximately 14.7% of the Company's issued and outstanding common share capital. Mr. Farris now owns a total of 1,777,598 shares of the Company, representing approximately 17.1% of the issued and outstanding common share capital of the Company.
Should Mr. Farris exercise in full the share purchase warrants and the stock options he owns, he will own 2,177,598 shares of the company, representing approximately 20.18% of the Company's then issued and outstanding share capital, assuming no other common shares are issued by the Company.
Mr. Farris has acquired the securities for investment purposes. He may acquire further securities of the Company for investment purposes, in the market or privately, from time to time.
Mr. Farris filed a previous early warning report with respect to the Company on July 10, 2017. This report is filed due to the fact that the acquisition of securities described above, represent an increase in Mr. Farris' holdings of over 2%.
A copy of the report filed by Mr. Farris in connection with this acquisition is available on the SEDAR website at www.sedar.com or by contacting Mr. Farris at the number shown above.
(signed) "Marshall Farris"
Marshall Farris
Telephone: 604-637-6373
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.