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LAS PINAS CITY, Philippines, June 19, 2025 (GLOBE NEWSWIRE) — Queensberry Mining and Development Corp. (“Queensberry”) is pleased to announce that on June 18, 2025, it acquired 25,306,166 common shares (the “Shares”) of St. Augustine Gold and Copper Limited (“SAU”) a Philippines based mineral exploration company focusing on the acquisition, exploration and evaluation of mineral properties. The Shares were acquired upon the conversion of approximately CAD$1,670,207 of debt owed by SAU to Queensberry (the “Debt Conversion”) at a deemed price of $0.066 per Share.
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Queensberry acquired 25,306,166 Shares representing approximately 2.50% of the issued and outstanding Shares (on a non-diluted basis). Immediately prior to the Debt Conversion, Queensberry owned 500,457,239 Shares (representing approximately 49.48% of the issued and outstanding Shares). Immediately following the Debt Conversion, Queensberry owns 525,763,405 Shares (representing approximately 52.0% of the issued and outstanding Shares). Queensberry’s shareholder, Manuel Paolo A. Villar, personally has ownership and control over an additional 218,500 Shares (approximately 0.02% of the issued and outstanding Shares).
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The Shares were acquired as part of the Debt Conversion at a deemed price of CAD$0.066 per Share for an aggregate price of CAD$1,670,207. Queensberry holds Shares in SAU for investment purposes and may, from time to time, depending on market and other conditions, increase or decrease its holdings of Shares or other securities of SAU through market transactions, private agreements, treasury issuances or otherwise.
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Queensberry’s head office is located at 3rd Floor, Star Mall Las Pinas, CV Starr Avenue, Philamlife Village, Pamplona, Las Pinas City, Philippines. For further information please contact Erma M. Abalos at (+632) 7728-8491. SAU’s head office is located at No. 21, Greenwood Lane, Singapore, 286949. SAU is listed on the Toronto Stock Exchange under the symbol “SAU”.
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