Maxim Finskiy

April 22, 2013 09:54 ET

Acquisition of Securities of Red Tiger Mining Inc.

MOSCOW, RUSSIA--(Marketwired - April 22, 2013) - Maxim Finskiy ("Finskiy"), 22 Tverskaya, Ulitsa, Moscow 125009, Russia, announces that, pursuant to a private placement financing (the "Private Placement"), he acquired, through a company wholly-owned by him, beneficial ownership of and/or control or direction over 5,000,000 common shares (the "Private Placement Shares") of Red Tiger Mining Inc. ("Red Tiger"). Finskiy paid CDN$0.10 per Red Tiger common share pursuant to the Private Placement.

Further, pursuant to a private transaction (the "Transaction"), Finskiy acquired, through a company wholly-owned by him, beneficial ownership of and/or control or direction over 8,750,020 common shares (the "Transaction Shares", and together with the Private Placement Shares, the "Acquired Shares") of Red Tiger.

Prior to the acquisition of the Acquired Shares, Finskiy, through a company wholly-owned by him, beneficially owned and/or exercised control or direction over 20,910,173 Red Tiger common shares and common share purchase warrants entitling Finskiy to acquire up to 22,523,079 Red Tiger common shares, representing approximately 28.2% of the issued and outstanding common shares of Red Tiger on an undiluted basis. Finskiy also holds Red Tiger stock options entitling him to acquire up to 500,000 Red Tiger common shares. Following the acquisition of the Acquired Shares, Finskiy beneficially owns and/or exercises control or direction over 34,660,193 Red Tiger common shares, warrants entitling him to acquire up to 22,523,079 Red Tiger common shares and stock options entitling him to acquire up to 500,000 Red Tiger common shares. This represents approximately 39.5% of the issued and outstanding Red Tiger common shares on an undiluted basis (or 57,683,272 common shares or approximately 52.0% on a partially diluted basis, assuming exercise of all of the warrants and stock options held by Finskiy).

The Transaction Shares were issued to Finskiy in consideration of the assignment of a debt to Red Tiger in the amount of US$875,002.00 (CDN$886,727.03 as at April 12, 2013), being the outstanding principal and accrued interest (up to and including April 12, 2013) under certain loans owing to Kirkland Intertrade Corp. (a company beneficially owned, directly or indirectly, by Finskiy) by Minerales Libertad S.A. de C.V., a wholly-owned subsidiary of Red Tiger. The Transaction Shares were issued at a price of US$0.10 per share (CDN$0.10134 as at April 12, 2013).

The Private Placement and the Transaction were private transactions outside of any market or other facility.

The Acquired Shares were acquired for investment purposes. Finskiy may, in the future, increase or decrease his ownership of securities of Red Tiger, directly or indirectly, from time to time depending upon the business and prospects of Red Tiger and future market conditions.

An early warning report (the "EWR") will be filed on SEDAR and will be available for review at www.sedar.com under Red Tiger's profile. A copy of the EWR can be obtained from the contact below.

Contact Information

  • Marvin Singer
    (416) 203-4426