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Oracle Mining closes investment agreement and enters into offtake agreement MF2 makes equity investment of $8.3 million MF2 acquires 3% Net Smelter Royalty for US$10 million MF2 agrees to purchase 100% of the mineral offtake from Oracle Ridge Vancouver, British Columbia, November 21, 2012 - Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is pleased to announce that it has completed a private placement (the "Private Placement") of 9.8 million units of the Corporation (the "Units") with MF2 Investment Company 1 LP ("MF2"), an affiliate of RK Mine Finance (Master) Fund II LP ("RKMF"). Each Unit consists of one common share of the Corporation (each, a "Common Share") and one-half one common share purchase warrant (each whole warrant, a "Warrant") at a subscription price of $0.85 per Unit. Each Warrant entitles MF2 to acquire a Common Share at a price of $1.02 per Common Share for a period of 36 months from the date of issue. In connection with the Private Placement, the Corporation, Oracle Ridge Mining, LLC, a wholly-owned subsidiary of the Corporation, and MF2 amended the previously announced investment agreement among the parties dated November 2, 2012 (the "Investment Agreement"). Pursuant to the amended Investment Agreement, MF2 purchased the Units pursuant to the Private Placement rather than as the lead order under the Corporation's offering by way of short form prospectus (the "Prospectus") dated November 9, 2012 (the "Prospectus Offering"). As a result of the Private Placement, MF2 has become an insider of the Corporation, owning approximately 19.99% of the issued and outstanding Common Shares. Based on the issued and outstanding Common Shares prior to giving effect to the Private Placement: (i) the 9.8 million Common Shares acquired by MF2 represented approximately 24.9% of the Common Shares; (ii) the 4.9 million Warrants, on exercise, represented approximately 12.5% of the Common Shares; and (iii) on a post exercise basis, MF2's ownership would increase to 14.7 million Common Shares (the "Maximum Issuable Securities"), which Shares Outstanding: 39,234,000 |
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| aus der Diskussion: | Das Miner ÜBEL-Wann hört die massenhafte Verwässung auf!!!!??? |
| Autor (Datum des Eintrages): | dosto (22.11.12 13:42:03) |
| Beitrag: | 38 von 206 (ID:43851854) |
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