Electrum Strategic Opportunities Fund L.P. Receives Contribution of Common Shares and Warrants of NovaCopper Inc.
(firmenpresse) - NEW YORK, NEW YORK -- (Marketwired) -- 01/05/16 -- As part of an internal reorganization involving Electrum Global Holdings L.P. ("Global Holdings"), Electrum Strategic Resources L.P. ("ESRL") and Electrum Strategic Opportunities Fund L.P. ("ESOF"), which occurred on December 31, 2015 (the "Closing"): (i) all 5,608,352 common shares (each, a "Common Share") in the capital of NovaCopper Inc. (the "issuer") held by Global Holdings were contributed to ESOF; (ii) all 16,022,449 Common Shares together with all 2,760,870 common share purchase warrants (the "Warrants") held by ESRL exercisable into the same number of Common Shares (a "Warrant Share") at an exercise price of US$1.60 per Warrant Share at any time prior to July 7, 2019, were contributed to ESOF; and (iii) in exchange for such contributions, Global Holdings received a limited partnership interest in ESOF.
Following the Closing: (i) Global Holdings and ESRL hold no Common Shares or Warrants directly; and (ii) ESOF holds 21,630,801 Common Shares or 20.64% of the issued and outstanding Common Shares and Warrants exercisable into 2,760,870 Common Shares which if exercised, would result in ESOF owning approximately 23.27% of the issued and outstanding Common Shares assuming the exercise of the Warrants.
The Common Shares and Warrants referred to above are held for investment purposes and ESOF may, depending on market and other conditions, increase or decrease its beneficial ownership of securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
ESOF is located at 700 Madison Avenue, 5th Floor, New York, NY, USA 10065. A copy of the early warning report relating to the Closing can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the issuer at .
Contacts:
Michael Williams
646-365-1600
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Datum: 05.01.2016 - 16:00 Uhr
Sprache: Deutsch
News-ID 1407255
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