Swiss private equity firm Pala Investments has made another investment of approximately $5.1 million in Vancouver-based Nevada Copper Corporation. Nevada Copper is a large advanced stage development copper property with substantial reserves and resources including copper, gold, silver, and iron. Pala has backed the company since 2010, and now owns around 45.7% of its issued and outstanding common shares.
Pala invests in Nevada Copper Corp.
TORONTO, April 26, 2013 /CNW/ – Pala Investments Limited (“Pala”) announced today that it acquired 2,099,300 common shares (the “Shares”) of Nevada Copper Corp. (“NCU”), representing approximately 2.6% of the 80,496,458 issued and outstanding common shares of NCU, as known by Pala. The Shares were purchased by way of a private transaction pursuant to a share purchase agreement.
As a result of the acquisition of the Shares, Pala now owns and controls a total of 36,796,281 common shares of NCU, representing approximately 45.7% of the issued and outstanding common shares of NCU, as known by Pala.
The consideration paid for each Share was CDN$2.4524. Pala has acquired the Shares for investment purposes and may increase or decrease the investment in Shares depending upon future market conditions.
The Shares were acquired pursuant to the private agreement take-over bid exemption in Section 100.1 of the Securities Act (Ontario) and in Section 4.2 of Multilateral Instrument 62-104 Take-over Bids and Issuer Bids and in compliance with the requirements thereof, including that the purchase of Shares was made from less than five persons, the bid was not made generally to holders of Shares and the value of the consideration paid for the Shares was not greater than 115% of the market price of the Shares.
Pala’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 Gregory Radke at +41 41 560 9070.
Pala is a multi-strategy investment company dedicated to investing in, and creating value across the mining sector in both developed and emerging markets. Pala seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions.
SOURCE: Pala Investments Limited
For further information:
Gregory Radke at +41 41 560 9070.
Photo courtesy of Shutterstock.