International Finance Corporation

December 22, 2010 12:01 ET

IFC Announces Acquisition of Shares of Regulus Resources Inc.

WASHINGTON, DISTRICT OF COLUMBIA--(Marketwire - Dec. 22, 2010) - IFC, a member of the World Bank Group, announced today that it has acquired 4.787 million common shares (the "Common Shares") of Regulus Resources Inc. ("Regulus"). The Common Shares were acquired in consideration for IFC exchanging 10.625 million common shares of Antares Minerals Inc. ("Antares") pursuant to a court-approved plan of arrangement (the "Arrangement") involving Antares. As part of the Arrangement, Antares' fifty per cent interest in the Rio Grande project located in Salta Province, northwestern Argentina, was spun out into Regulus, a company listed on the TSX Venture Exchange.

The Common Shares acquired by IFC represent 13.23% of the outstanding common shares of Regulus. IFC acquired the Common Shares for investment purposes. IFC may, in the future, take such actions in respect of its holding in Regulus as IFC deems appropriate in light of the circumstances then existing.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. IFC creates opportunity for people to escape poverty and improve their lives. IFC does so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, IFC's new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org.

International Finance Corporation, 2121 Pennsylvania Avenue N.W., Washington D.C. 20433

Contact Information

  • For further information, including to obtain a copy of the
    report filed with the Canadian securities regulatory
    authorities in respect of which this news release relates,
    please contact: In Washington, D.C.: Josef Skoldeberg
    (202) 473-6978
    jskoldeberg@ifc.org