Electrum Global Holdings L.P.

July 28, 2017 08:01 ET

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

NEW YORK, NEW YORK--(Marketwired - July 28, 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 entered a share purchase agreement with Sandfire BC Holdings Inc. (the "Purchaser") dated July 27, 2017 (the "Purchase Agreement"). Pursuant to the Purchase Agreement, Electrum and its affiliate Electrum Strategic Metals II LLC ("ESML-II") will, subject to certain terms and conditions set forth in the Purchase Agreement, transfer ownership of an aggregate of 54,632,580 common shares in the capital of Tintina Resources Inc. (the "Common Shares"), of which 45,971,163 Common Shares are currently held by Electrum and 8,661,417 Common Shares are currently held by ESML-II, to the Purchaser for an aggregate purchase price of CAD$7,129,551.69, or CAD $0.1305 per Common Share (the "Transaction"). Subject to the terms and conditions set forth in the Purchase Agreement, the Transaction is scheduled to close on August 3, 2017, or such other business day as Electrum and the Purchaser agree to in writing.

Electrum currently holds 45,971,163 Common Shares representing 14.2% of the issued and outstanding Common Shares. ESML-II currently holds 8,661,417 Common Shares representing 2.67% of the issued and outstanding Common Shares. Upon closing of the Transaction, neither Electrum nor ESML-II will hold any securities of the issuer. The Common Shares referred to above were acquired 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