MM Asset Management Inc.

August 11, 2009 16:35 ET

MM Asset Management Inc. Acquired Control Over Common Shares of Kinbauri Gold Corp.

TORONTO, ONTARIO--(Marketwire - Aug. 11, 2009) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), acquired today 1,000,000 common shares ("Shares") of Kinbauri Gold Corp. ("Kinbauri") and that MMCAP has acquired 2,878,000 Shares since a take-over bid for all of the outstanding Shares was filed by Orvana Minerals Corp. with the securities regulatory authorities on May 25, 2009. The Shares were acquired through the facilities of the TSX Venture Exchange.

MMCAP now beneficially owns and MMAM exercises control and direction over 3,922,550 Shares, representing approximately 6.61% of the outstanding Shares of Kinbauri.

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

Contact Information

  • MM Asset Management Inc.
    Matthew MacIsaac