and 2,000,000 warrants exercisable to purchase
2,000,000 Common Shares at US$0.65 (Cdn$0.65, as of July 23, 2008) per Common
Share.
On December 10, 2008,
the Issuer entered into a US$15,000,000 bridge loan facility with MBL and
another lender. As part of this
facility, MBL made available 50% of the aggregate loan and received 21,307,127
warrants, each warrant entitling MBL to purchase one Common Share at a price
of US$0.177 (Cdn$0.221, as of Dec. 10, 2008) per Common Share and exercisable
for a four year period ending on December 10, 2012. The terms of the warrant are contained
within the Warrant Certificate dated December10, 2008, issued by Apollo to
MBL (2008 Warrant).
On February 23, 2009,
the Issuer entered into a US$ 70,000,000 project financing facility with MBL
and another lender that was used to repay the above-referenced bridge loan
facility. In connection therewith,
Macquarie was issued 23,198,336 warrants exercisable for a period of 48
months from closing, each warrant entitling MBL to purchase one Common Share
at an exercise price of US$ 0.20 per Common Share (Cdn$ 0.252, as of February
23, 2009). The terms of the warrant
are contained within the Warrant Certificate dated February 20, 2009, issued
by Apollo to MBL (2009 Warrant).
As part of a
transaction involving a business combination between Brigus Gold Corp and Linear
Gold Corp, on June 24, 2010, Briguss shareholders authorized it to affect a
1-for-4 reverse split of the number of shares of the Company's common stock
(the Reverse Split). In connection
with the transaction, MBL entered into an agreement (Lock Up Agreement)
with Brigus and Linear pursuant to which MBL agreed not to, directly or
indirectly, sell, assign, transfer, loan, grant security over, grant any
warrant, right or option to purchase, make any short sale or otherwise
dispose of, or enter into any hedging transactions with respect to the Common
Shares in Brigus, or any options or warrants to purchase any Common Shares in
Brigus held by MBL before December 31, 2010.
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MBL intends to hold the
Common Shares, including the warrants and Common Shares issuable upon
exercise thereof, solely for investment purposes.
MBL currently has no
plans or proposals that relate to or would result in any of the actions
enumerated in paragraphs (a) through (j) of Item 4 of this Schedule 13D
filing. However, MBL reserves the
right to change its plans at any time, as it deems appropriate, in light of
its ongoing evaluation of (a) its business and liquidity objectives, (b) the
Issuers financial condition, business, operations, competitive position,
prospects and/or share price, (c) industry, economic and/or securities
markets conditions, (d) alternative investment opportunities, and (e) other
relevant factors. Without limiting the
generality of the preceding sentence, MBL reserves the right (in each case,
subject to any applicable restrictions under law or contract) to at any time
or from time to time (i) purchase or otherwise acquire additional securities
of the Issuer, or instruments convertible into or exercisable for any such
securities (collectively, Issuer Securities), in the open market, in
privately negotiated transactions or otherwise, (ii) sell, transfer or
otherwise dispose of Issuer Securities in public or private transactions,
(iii) cause
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