MM Asset Management Inc.

June 18, 2008 17:11 ET

MM Asset Management Inc. Acquired Control Over Common Shares of Frontier Pacific Mining Corporation

TORONTO, ONTARIO--(Marketwire - June 18, 2008) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP") has acquired 3,778,400 common shares (the "Shares") of Frontier Pacific Mining Corporation. ("Frontier") since a takeover bid for all of the outstanding common shares was filed by Eldorado Gold Corporation with the securities regulatory authorities on May 9, 2008 ("date of filing"). The Shares were acquired through the facilities of the TSX Venture Exchange.

On the date of filing, MMCAP beneficially owned and MMAM exercised control and direction over 10,009,000 Shares, representing approximately 6.082% of the outstanding common shares of Frontier. MMCAP has increased its investment by 2.296% to a total of 13,787,400 Shares, approximately 8.378% of the outstanding common shares of Frontier based on 164,567,154 outstanding common shares as reported by Frontier.

MMCAP has acquired the Frontier common shares for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of Frontier or dispose of such securities in the open market, by private agreement or otherwise.

Contact Information

  • MM Asset Management Inc.
    Matthew MacIsaac
    (416) 408-0997