MM Asset Management Inc.

December 01, 2009 19:15 ET

MM Asset Management Inc. Acquired Control Over Common Shares of Khan Resources Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), acquired today 205,000 common shares ("Shares") of Khan Resources Inc. ("Khan") and that MMCAP has acquired 205,000 Shares since a take-over bid for all of the outstanding Shares was filed by Atomredmetzoloto JSC with the securities regulatory authorities on November 30, 2009. The Shares were acquired through the facilities of the Toronto Stock Exchange.

MMCAP now beneficially owns and MMAM exercises control and direction over 3,033,000 Shares, representing approximately 5.62% of the outstanding Shares.

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

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  • MM Asset Management Inc.
    Matthew MacIsaac