Kevel Consulting S.A.

February 09, 2015 16:15 ET

Kevel Consulting Announces Filing of Early Warning Report Relating to TriMetals Mining Inc.

GENEVA, SWITZERLAND--(Marketwired - Feb. 9, 2015) - Kevel Consulting SA ("Kevel", the investment manager of Clever Fund Solution SPC for Arbitrage SP Segregated Portfolio ("Arbitrage"), WW Capital Markets SPC for Income Invest SP Segregated Portfolio ("Income Invest"), WW Capital Markets SPC for Capital Market SP Segregated Portfolio ("Capital Market") and Déesse Investment Fund SPC for Global One SP Segregated Portfolio ("Déesse," and, collectively with Arbitrage, Income Invest and Capital Market, the "Funds"), today announced details concerning the Funds' stakes in TriMetals Mining Inc. ("TMI") (TSX:TMI).

As a result of inadvertence on the part of the previous investment manager of Arbitrage, news releases, early warning and insider reports required by applicable securities legislation were not filed by Arbitrage or the previous investment manager. Kevel has filed a consolidated early warning report in respect of various transactions relating to acquisitions of securities of TMI by the Funds. Arbitrage and Kevel have also filed insider trading reports for transactions involving securities of TMI since Arbitrage became an insider of TMI.

As of the date hereof, Arbitrage beneficially owns 19,505,400 common shares of TMI, representing 14.37% of TMI's issued and outstanding common shares. Arbitrage also beneficially owns 19,505,400 Class B non-voting shares of TMI, representing 16.77% of TMI's issued and outstanding Class B non-voting common shares.

Income Invest beneficially owns 2,416,850 common shares of TMI, representing 1.78% of TMI's issued and outstanding common shares. Income Invest also beneficially owns 2,353,600 Class B non-voting shares of TMI, representing 2.02% of TMI's issued and outstanding Class B non-voting common shares.

Capital Market beneficially owns 2,356,450 common shares of TMI, representing 1.74% of TMI's issued and outstanding common shares. Capital Market also beneficially owns 2,307,200 Class B non-voting shares of TMI, representing 1.98% of TMI's issued and outstanding Class B non-voting common shares.

Déesse beneficially owns 810,200 common shares of TMI, representing 0.60% of TMI's issued and outstanding common shares. Déesse also beneficially owns 810,200 Class B non-voting shares of TMI, representing 0.70% of TMI's issued and outstanding Class B non-voting common shares.

In its capacity as investment manager of the Funds, in the aggregate Kevel exercises control and direction over 25,088,900 common shares of TMI held by the Funds, representing 18.48% of TMI's issued and outstanding common shares, and 24,976,400 Class B non-voting shares held by the Funds, representing 21.48% of TMI's issued and outstanding Class B non-voting common shares.

Kevel has not executed any trades in shares of TMI since it became investment manager of the Funds. Shares of TMI were distributed to the Funds in connection with a plan of arrangement TMI completed on December 20, 2013, whereby each then issued and outstanding common share of TMI was exchanged for one new common share and one Class B non-voting share. The Funds had previously acquired common shares at various prices in secondary market purchases over the Toronto Stock Exchange and U.S. over the counter markets.

The Funds acquired the shares for investment purposes. Kevel will continue to review investment alternatives for the Funds and the Funds may acquire additional shares of TMI or may sell the shares they now hold.

About Arbitrage

Arbitrage is a fund within Clever Fund Solution SPC, Cayman Islands, portfolio of funds. Arbitrage's appointed investment manager is Kevel Consulting SA, a Geneva based company incorporated on 12 January 2007 under Swiss Federal number CH-660-0096007-1.

Clever Fund Solution SPC for Arbitrage SP Segregated Portfolio
WW Capital Markets SPC for Income Invest SP Segregated Portfolio
WW Capital Markets SPC for Capital Market SP Segregated Portfolio and Déesse Investment Fund SPC for Global One SP Segregated Portfolio
c/o Kevel Consulting SA
Place de Longemalle 6-8
1204 Genève
Switzerland
Telephone: +41 22 839 3244
Facsimile: +41 22 839 3249

Contact Information

  • Kevel Consulting SA
    Horst Daspersgruber
    +41 22 839 3244
    +41 22 839 3249 (FAX)