Ernesto Echavarria

November 08, 2013 17:08 ET

Ernesto Echavarria Increases His Position in Prophecy Platinum

CULIACAN SINALOA, MEXICO--(Marketwired - Nov. 8, 2013) - Ernesto Echavarria (the "Acquiror") wishes to announce that on November 7th, 2013, he acquired, through a private transaction, ownership and control of 7,410,000 common shares ("Common Shares") of Prophecy Platinum Corp. (the "Company") at an average price of $0.40 per Common Share.

The 7,410,000 Common Shares acquired by the Acquiror (the "Transaction") represent approximately 9.6% of the issued and outstanding Common Shares of the Company. Immediately following the Transaction, the Acquiror now owns and controls 13,594,725 Common Shares and 3,175,925 warrants of the Company, representing approximately 17.6% (basic) and 21.7% (diluted) of the issued and outstanding Common Shares of the Company.

The Acquiror acquired the Common Shares pursuant to the Transaction for investment purposes. The Acquiror has no present intention to acquire ownership of, or control over, additional securities of the Company, but may choose to acquire additional securities of the Company in the future for investment purposes.

This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Acquiror in connection with the acquisition of the Common Shares is available on the Company's SEDAR profile, and it can also be obtained directly from the Acquiror by contacting him at the number shown above.

Ernesto Echavarria

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ernesto Echavarria
    Blvd Pedro Ma Anaya #1225,
    Culiacan Sinaloa,
    Mexico 80040