/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 17, 2019 /CNW/ - Pala Investments
Limited ("Pala"), a multi-strategy investment company
focused on the mining and metal value chain, announced today that
it has acquired an additional 300,000 common shares (the
"Shares") of Nevada Copper Corp. ("Nevada Copper") through the facilities of
the Toronto Stock Exchange ("TSX"). The Shares were
acquired at an average price of CDN$0.29 per Share for total consideration of
CDN$87,000.
Immediately prior to the acquisition, Pala held an aggregate of
273,049,447 Shares and 2,500,000 warrants exercisable for a total
of 2,500,000 Shares (the "Existing Warrants"), representing
approximately 35.84% of the issued and outstanding Shares on a
non-diluted basis (or approximately 36.05% of the issued and
outstanding Shares on a partially diluted basis, after giving
effect to the exercise of all Existing Warrants). Immediately
following the acquisition, Pala holds an aggregate of 273,349,447
Shares and the Existing Warrants, representing approximately
35.88% of the issued and outstanding Shares on a non-diluted basis
(or approximately 36.09% of the issued and outstanding Shares on a
partially diluted basis, after giving effect to the exercise of all
Existing Warrants).
The Shares were acquired in reliance on the normal course
purchase exemption from the formal take-over bid requirements in
section 4.1 of National Instrument 62-104 – Take-Over Bids and
Issuer Bids ("NI 62-104"). The Shares acquired, together
with all of the other Shares acquired by Pala during the 12-month
period preceding the Transaction, did not exceed 5% of the number
of Shares outstanding at the beginning of such 12-month period, and
the consideration paid by Pala for any of the Shares did not exceed
the market price at the date of the acquisition as determined in
accordance with NI 62-104.
Pala has acquired the Shares for investment purposes and may
increase or decrease the investment in the securities of
Nevada Copper depending on its
evaluation of the business, prospects and financial condition of
Nevada Copper, the market for
Nevada Copper's securities, general
economic and tax conditions and other factors.
The Shares of Nevada Copper are
listed on the TSX under the symbol "NCU". Nevada Copper is a corporation organized under
the laws of British Columbia with
its head office at Suite 598 – 999 Canada Place, Vancouver, British Columbia, Canada V6C 3E1.
Pala is a company existing under the laws of Jersey and its address
is 12 Castle Street, St. Helier, Jersey JE2 3RT.
About Pala
Pala is an investment company focused exclusively on the mining
sector with a strong track record of successful investments and
value creation. Pala's team has extensive experience within the
sector and seeks to assist companies in which it has long-term
shareholdings by providing strategic advice and innovative
solutions in development, production, turnaround and advanced
exploration situations. Pala invests across all geographies and in
all mining commodities as well as mining services and consumables.
For more information, visit www.pala.com.
SOURCE Pala Investments Limited