Metals and mining private equity fund Appian has acquired a stake in Roxgold. According to details of the transaction, Appian bought almost 2.3 million shares of Roxgold at a price of C$.62 per share. Based in Toronto, Roxgold is a gold exploration and development company.
TORONTO, ONTARIO–(Marketwired – March 26, 2014) – On March 25, 2014, Appian Natural Resources Fund (“Appian”) acquired ownership and control, through its wholly owned subsidiary, of 23,863,325 common shares (the “Shares”) of Roxgold Inc. (“Roxgold”). 2,263,325 Shares were acquired through the TSX Venture Exchange at a price of $0.62 per Share. This acquisition resulted in a change in beneficial ownership of such Shares. 21,600,000 Shares were newly issued shares acquired in a prospectus offering at a price of $0.58 per Share. Immediately after the acquisition and as at March 26, 2014, Appian beneficially owned, or exercised control and direction over, an aggregate of 23,863,325 Shares of Roxgold, representing approximately 10.1% of the issued and outstanding Shares of Roxgold.
The Shares were acquired for investment purposes. Depending on the development of Roxgold’s business, financial condition, the market for Roxgold’s securities, general economic conditions and other factors, Appian may acquire additional shares of Roxgold, or sell some or all of the shares it holds, in the open market, by private agreement or otherwise.
An early warning report will be filed by Appian in accordance with applicable securities laws and will be available under Roxgold’s profile on the SEDAR website at www.sedar.com.
About Appian Natural Resources Fund
Appian Natural Resources Fund is a metals and mining private equity fund providing long-term capital to both private and public mining companies. Appian’s senior management, with a presence in London, Johannesburg and Melbourne, are a combination of major mining company, private equity and mining investment banking professionals who have collectively built and managed 60+ mines and transacted around $200 billion worth of transactions. Appian’s principal tenet is to provide both long-term capital and operating skills to companies, partnering with management with the aim of developing assets into production, or ramping up existing production, to realise full value potential.