MM Asset Management Inc.

December 16, 2009 19:08 ET

MM Asset Management Inc. Acquired Control Over Common Shares of Castle Gold Corporation

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2009) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP") has acquired 2,662,300 common shares (the "Shares") of Castle Gold Corporation ("Castle Gold") since a take-over bid for all of the outstanding common shares was filed by Argonaut Gold Inc. with the securities regulatory authorities on November 23, 2009 ("Date of Filing"). The Shares were acquired through the facilities of the TSX Venture Exchange.

On the Date of Filing, MMCAP beneficially owned and MMAM exercised control and direction over 2,164,800 Shares, representing approximately 2.73% of the outstanding common shares of Castle Gold. At the date hereof, MMCAP beneficially owns and MMAM exercises control and direction over 4,827,100 common shares, representing approximately 6.09% of the outstanding common shares of Castle Gold.

MMCAP has acquired the Castle Gold common shares for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of Castle Gold or dispose of such securities in the open market, by private agreement or otherwise.

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  • MM Asset Management Inc.
    Matthew MacIsaac