Jim Slater

September 09, 2011 19:53 ET

Jim Slater Announces Purchase of Securities in Spanish Mountain Gold Ltd.

LONDON, UNITED KINGDOM--(Marketwire - Sept. 9, 2011) - Jim Slater today announced that he has acquired beneficial ownership or control over 1,125,000 common shares (each, a "Common Share") in Spanish Mountain Gold Ltd. ("Spanish Mountain") at a purchase price of C$0.80 per share for total consideration of C$900,000. Following these transactions, Mr. Slater beneficially holds or controls 11,375,000 Common Shares, representing approximately 6.90% of the issued and outstanding Common Shares. Mr. Slater also beneficially holds or controls a total of 6,850,465 share purchase warrants entitling Mr. Slater or his affiliates to purchase an additional 6,850,465 Common Shares (the "Warrants"). If the Warrants are fully exercised, Mr. Slater will hold or control approximately 10.61% of the issued and outstanding Common Shares on a partially diluted basis, assuming no other Common Shares are issued.

The Common Shares were acquired by Mr. Slater and his affiliates for investment purposes. 1,000,000 Common Shares were acquired in a privately arranged purchase and 125,000 Common Shares were acquired under exemptions from prospectus and registration requirements. Mr. Slater and his affiliates may from time to time increase or decrease their holdings of Common Shares or other securities of Spanish Mountain.

A copy of the early warning report filed with the applicable securities regulators will be available on SEDAR (www.sedar.com).

For further information, or to obtain a copy of the early warning report filed under applicable securities laws, please contact:

Jim Slater/Anthony Gordon +44 20 7290 8174

Contact Information

  • Jim Slater/Anthony Gordon
    +44 20 7290 8174