TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Pala Investments Limited ("Pala") announced today that it acquired 7,315,000 common shares (the "Shares") of Nevada Copper Corp. ("NCU"), representing approximately 9.09% of the 80,496,458 issued and outstanding common shares of NCU, as known by Pala, following issuance of the Shares. The Shares were issued from treasury to Pala in reliance on an exemption from the prospectus requirements under applicable securities laws.
As a result of the acquisition of the Shares, Pala now owns and controls a total of 34,696,981 common shares of NCU, representing approximately 43.10% of the issued and outstanding common shares of NCU, as known by Pala.
The Shares were issued at a value of CDN$3.37 per common share as payment of the purchase consideration for the 46,000,000 common shares of Mercator Minerals Ltd. purchased by NCU from Pala pursuant to a share purchase agreement dated October 4, 2012 between Pala and NCU. Pala has acquired the common shares of NCU for investment purposes and may increase or decrease the investment in common shares of NCU depending upon future market conditions.
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.
Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Pala's future intentions regarding the securities of NCU that it owns. 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 Pala 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, except as required by applicable law.