TORONTO, July 4, 2012 /CNW/ - Pala Investments Holdings Limited ("PIHL") announced today that it has agreed to acquire a total of 2,500,000
common shares of Nevada Copper Corp. ("NCU"), representing approximately 3.43% of the 72,861,458 issued and
outstanding common shares of NCU, as known by PIHL. The common shares
are to be acquired by way of private transaction pursuant to a share
purchase agreement dated July 3, 2012.
Assuming the closing of the acquisition referred to above, PIHL will own
and control, directly and indirectly, a total of 27,381,981 common
shares representing approximately 37.58% of the issued and outstanding
shares of NCU, as known by PIHL.
The consideration payable for each common share that PIHL has agreed to
purchase is CDN$1.90 per common share. It is a condition to the Share
Purchase Agreement that the acquisition of common shares close by July
10, 2012. PIHL intends to acquire the common shares for investment
purposes and may increase or decrease the investment in the common
shares depending upon future market conditions.
The common shares of NCU are being acquired pursuant to an exemption
from securities legislation provided by Section 100.1 of the Securities Act (Ontario) and section 4.2 of Multilateral Instrument 62-104 of the
Canadian Securities Administrators. Such exemptions are available on
the basis that the common shares were purchased from less than five
vendors and the price per common share was less than 115% of the market
price of NCU's common shares on the date of the share purchase
agreement.
PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For
further information please refer to the Early Warning Report posted on
SEDAR or contact Colin Murray at 011 41 41 560 9070.
About Pala
Pala Investments Holdings Limited is a multi-strategy investment company
dedicated to investing in, and creating value across, the mining sector
in both developed and emerging markets. Pala Investments seeks to
assist companies in which it has long-term shareholdings by providing
strategic advice and innovative financing solutions. For more
information, visit www.pala.com.
Certain statements in the press release are forward-looking statements
and are prospective in nature, including statements with respect to
PIHL's future intentions regarding the securities of NCU that it owns
and statements relating to the closing of the above transactions.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events, and
are therefore subject to risks and uncertainties which could cause
actual results to differ materially from the future results expressed
or implied by the forward-looking statements. These statements
generally can be identified by the use of forward-looking words such as
"may", "should", "will", "could", "intend", "estimate", "plan",
"anticipate", "expect", "believe" or "continue", or the negative
thereof or similar variations. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations. Such forward-looking statements should therefore be
construed in light of such factors, and PIHL is not under any
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
