Bryce Roxburgh

October 28, 2015 17:06 ET

Acquisition of Units and Options of Rugby Mining Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2015) - Bryce Roxburgh (the "Offeror") announces that on October 15, 2015, the Offeror, the Chairman and a director of Rugby Mining Limited ("Rugby"), acquired control of 1,250,000 units ("Units") of Rugby through the purchase of 562,500 Units directly and 687,500 Units by Bryce Roxburgh Super Fund, a company controlled by the Offeror. Each Unit is comprised of one common share of Rugby (a "Share") and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one common share of Rugby (a "Warrant Share") for a period of five years at an initial exercise price of CAD$0.10 if exercised until October 15, 2016, which exercise price shall increase each year on October 15th by CAD$0.01 to a maximum price of CAD$0.14 in year five. The 1,250,000 Shares comprised in the Units represent approximately 2.3% of Rugby's issued and outstanding common shares. The 1,250,000 Shares and the 1,250,000 Warrants comprised in the Units collectively represent approximately 4.4% of the issued and outstanding common shares of Rugby, assuming the exercise of the Warrants.

Prior to the acquisition of the Units, the Offeror exercised control or direction over 4,371,667 common shares of Rugby (2,300,000 held or controlled by Rowen Company Ltd. ("Rowen"), a company controlled by the Offeror, and 100,000 are held by Joamel Holdings Pty Limited ("Joamel"), a company controlled by the Offeror), 300,000 common share purchase warrants of Rugby (held by Rowen) and 1,100,000 stock options of Rugby, collectively representing approximately 12.2% of the issued and outstanding common shares of Rugby, assuming the exercise of such common share purchase warrants and stock options. As a result of the acquisition of the Units, the Offeror now has control over an aggregate of 5,261,667 common shares of Rugby (2,300,000 held or controlled by Rowen Company Ltd. ("Rowen"), a company controlled by the Offeror, 687,500 held by Bryce Roxburgh Super Fund and 100,000 are held by Joamel), 1,550,000 common share purchase warrants of Rugby (687,500 held through Bryce Roxburgh and 300,000 held through Rowen Company Ltd.) and on October 25, 2015, Rugby also granted the Offeror 200,000 stock options (the "Options") representing less than 1% of the issued and outstanding common shares of Rugby, assuming the exercise of the Options for a total of 1,300,000 stock options of Rugby, collectively representing approximately 14.2% of the issued and outstanding common shares of Rugby, assuming the exercise of the common share purchase warrants and stock options.

The Units were acquired by the Offeror and Bryce Roxburgh Super Fund for investment purposes. The Offeror may increase or decrease his beneficial ownership or control of securities of Rugby as the circumstances or market conditions warrant.

To obtain a copy of the early warning report filed by the Offeror, please contact the Offeror at 604 688 4941 or refer to Rugby's SEDAR profile at www.sedar.com.

Contact Information

  • Rugby Mining Limited
    604.688.4941
    604.688.9532 (FAX)
    Toll-free: 1.855.688.4941