Electrum Global Holdings L.P.

August 16, 2017 16:35 ET

Electrum Global Holdings L.P. Completes Sale of Common Shares of Tintina Resources Inc.

NEW YORK, NEW YORK--(Marketwired - Aug. 16, 2017) - This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Electrum Global Holdings L.P. ("Electrum") announces that it has completed the previously announced sale (together with its affiliate Electrum Strategic Metals II LLC ("ESML-II")) of an aggregate of 54,632,580 common shares in the capital of Tintina Resources Inc. (the "Common Shares") to Sandfire BC Holdings Inc., for an aggregate purchase price of CAD$7,129,551.69, or CAD $0.1305 per Common Share (the "Transaction").

Prior to the closing of the Transaction Electrum held 45,971,163 Common Shares representing 14.2% of the issued and outstanding Common Shares and ESML-II held 8,661,417 Common Shares representing 2.67% of the issued and outstanding Common Shares. Electrum and ESML-II collectively held 54,632,580 Common Shares representing 16.88% of the issued and outstanding Common Shares. Following the closing of the Transaction, neither Electrum nor ESML-II owns any securities of the issuer. The Common Shares referred to above were held for investment purposes.

Tintina Resources Inc. is located at Suite 1110 - 1111 West Georgia Street, Vancouver, British Columbia V6E 4M3, Canada. Electrum is located at 700 Madison Avenue, 5th Floor, New York, NY 10065, USA. A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the issuer at www.sedar.com.

Contact Information

  • Michael Williams
    646-365-1600