Maxim Finskiy

December 02, 2015 15:08 ET

Disposition of Securities of Red Tiger Mining Inc.

MOSCOW, RUSSIA--(Marketwired - Dec. 2, 2015) - Maxim Finskiy ("Finskiy"), 22 Tverskaya, Ulitsa, Moscow 125009, Russia, announces that, pursuant to a private transaction (the "Transaction"), he disposed of beneficial ownership of and/or control or direction over 55,866,152 common shares (the "Disposed Shares") of Red Tiger Mining Inc. ("Red Tiger"), representing approximately 43.61% of the issued and outstanding common shares of Red Tiger. Pursuant to the Transaction, Finskiy received US$1,036,000 for the Disposed Shares, which is approximately US$0.0185 (equivalent to approximately CAD$0.0247 based on the US$ to CAD$ bank of Canada noon exchange rate of 1.3372 on December 1, 2015) per Red Tiger common share.

Prior to the disposition of the Disposed Shares, Finskiy beneficially owned and/or exercised control or direction over 55,866,152 Red Tiger common shares, representing approximately 43.61% of the issued and outstanding common shares of Red Tiger on an undiluted basis. Finskiy also holds stock options entitling him to acquire up to 50,000 Red Tiger common shares. Following the disposition of the Disposed Shares, Finskiy beneficially owns and/or exercises control or direction over stock options entitling him to acquire up to 50,000 Red Tiger common shares. This represents approximately 0.0% of the issued and outstanding Red Tiger common shares on an undiluted basis (or 50,000 common shares or approximately 0.039% on a partially diluted basis, assuming exercise of all of the warrants and stock options held by Finskiy).

The Transaction was a private transaction outside of any market or other facility.

The Disposed Shares were disposed of by Finskiy for the purpose of liquidating substantially all of his investment in Red Tiger. 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