Laxey Partners Ltd.

August 20, 2010 14:34 ET

CORRECTION FROM SOURCE: Funds Managed by Laxey Partners Ltd. Acquire Trust Units of CMP Gold Trust for Investment Purposes

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2010) - Laxey Partners Ltd. ("Laxey") announced today a correction of its press release issued August 13, 2010 in respect of its acquisition of units of CMP Gold Trust ("CMP"). The August 13, 2010 press release incorrectly announced that Laxey acquired 10,000 series A warrants (in addition to 10,000 trust units) of CMP on August 4, 2010 as a result of ambiguous disclosure in CMP's current annual information form and annual report that each unit consists of one trust unit and one series A warrant of CMP. On August 4, 2010 Laxey, acting on behalf of LACMA Limited, LACV Limited, LPAlternative LP, LP Value Limited, Laxey Universal Value LP, Sprugos Investments XII, LLC and The Value Catalyst Fund Limited (collectively the "Funds") acquired 10,000 trust units of CMP, but did not acquire any series A warrants of CMP. The full text of the corrected press release appears below.

Funds Managed by Laxey Partners Ltd. Acquire Trust Units of CMP Gold Trust for Investment Purposes

Laxey Partners Ltd. ("Laxey") on behalf of LACMA Limited, LACV Limited, LPAlternative LP, LP Value Limited, Laxey Universal Value LP, Sprugos Investments XII, LLC and The Value Catalyst Fund Limited (collectively the "Funds") it has acquired through the facilities of the Toronto Stock Exchange 10,000 trust units of CMP Gold Trust ("CMP") at an average price of CDN$10.5406 per trust unit.

As a result of this acquisition, the Funds now hold 424,700 trust units representing approximately 10.12% of the total outstanding trust units of CMP.

Laxey holds these trust units, on behalf of the Funds under its discretionary management, for investment purposes only and not with the purpose of influencing the control or direction of the CMP. These investments will be reviewed on a continuing basis and such holdings may be increased or decreased in the future.

Laxey has discretionary management on behalf of LACMA Limited, LACV Limited, LPAlternative LP, LP Value Limited, Laxey Universal Value LP, Sprugos Investments XII, LLC and The Value Catalyst Fund Limited with its principal office at 64 Athol Street, 4th Floor, Derby House, Douglas, Isle of Man IM1 1JD United Kingdom.

Contact Information

  • Laxey Partners Ltd.
    Mr. Michael Allison
    44 (0) 1624 690900