MOSCOW, RUSSIA--(Marketwire - July 26, 2012) - Sergey Yanchukov ("Yanchukov"), 7 Sholokhova Street, Moscow, Russia, 119634, announces that pursuant to a private placement financing (the "Private Placement"), he acquired, through a company wholly-owned by him, beneficial ownership of and/or control or direction over 25,377,500 common shares (the "Acquired Shares") of White Tiger Gold Ltd. ("White Tiger Gold"). Yanchukov paid CDN$0.10 per White Tiger Gold common share pursuant to the Private Placement.
Prior to the acquisition of the Acquired Shares, Yanchukov, through a company wholly-owned by him, beneficially owned and/or exercised control or direction over 44,222,337 White Tiger Gold common shares and 3,546,203 common share purchase warrants, representing approximately 11.5% of the issued and outstanding common shares of White Tiger Gold on an undiluted basis. Following the acquisition of the Acquired Shares, Yanchukov beneficially owns and/or exercises control or direction over 69,599,837 White Tiger Gold common shares and 3,546,203 warrants. This represents approximately 17.0% of the issued and outstanding White Tiger Gold common shares on an undiluted basis (or 73,146,040 common shares or approximately 17.8% on a partially diluted basis, assuming exercise of the 3,546,203 warrants held by Yanchukov).
The Private Placement was a private transaction outside of any market or other facility.
The Acquired Shares were acquired for investment purposes. Yanchukov may, in the future, increase or decrease his ownership of securities of White Tiger Gold, directly or indirectly, from time to time depending upon the business and prospects of White Tiger Gold and future market conditions. As disclosed in White Tiger Gold's press releases of July 4, 2012 and July 5, 2012, White Tiger Gold proposes to issue common share purchase warrants to Yanchukov in consideration of the extension, until January 31, 2015, of approximately USD$20 million in loans owing to Unique Goals International Ltd (a company beneficially owned, directly or indirectly, by Yanchukov) by White Tiger Gold.
An early warning report (the "EWR") will be filed on SEDAR and will be available for review at www.sedar.com under White Tiger Gold's profile. A copy of the EWR can be obtained from the contact below.