Zamia Metals (ASX: ZGM) substantial shareholder Brownstone International acquired 17,917,808 shares at $0.085 per share on 4 November 2011.
The shares were for a consideration of $1,523,013 and issued for a loan repayment.
Also, Brownstone acquired 2,380,953 for $250,000 through a placement on 6 April 2011.
Brownstone now holds 43,055,716 in Zamia Metals representing a 18.46% interest in the company, a substantial increase from its previous 12.5% stake.
Brownstone International Pty Ltd is a private company based in Perth.
Zamia Metals is currently executing a two-track strategy at the Anthony molybdenum project in the Clermont district of Central Queensland.
The company now has a regional exploration program established for gold and copper at Clermont, with the target the establishment of other resources on the company’s large tenement portfolio in the district.