Mr. Colin Orr-Ewing

August 31, 2010 16:42 ET

Mr. Colin Orr-Ewing: Early Warning Report in Accordance With National Instrument 62-103

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2010) - In connection with the winding up of Tubutama Borax PLC, ("Tubutama Borax") and its wholly owned subsidiary, Tubutama Limited, the common shares (the "Bacanora Shares") held in the capital of Bacanora Minerals Ltd. (TSX VENTURE:BCN) ("Bacanora") which were registered in the name of Tubutama Limited were distributed to the security holders of Tubutama Borax. As a result of such distribution, Mr. Colin Orr-Ewing acquired indirect ownership and control of an aggregate of 14,002,375 Bacanora Shares representing 40.50% of the total issued and outstanding Bacanora Shares. Prior to acquiring the aformentioned Bacanora Shares, Mr. Orr-Ewing owned or exerted control or direction over 1,315,000 Bacanaora Shares. As a result, Mr. Colin Orr-Ewing currently owns or exerts control or direction over an aggregate of 15,317,375 Bacanora Shares, or approximately 44.30% of the issued and outstanding capital of Bacanora. In connection with the closing of Bacanora`s Qualifying Transaction whereby Tubutama Limited acquired Bacanora Shares, the Bacanora Shares were ascribed a price of Cdn $0.23 per share.

In the future, Mr. Orr-Ewing may acquire additional securities of the Corporation, dispose of some or all of the securities he now owns or exerts control or direction over, or may continue to hold his current position. The acquisition of the Bacanora Shares by Mr. Orr-Ewing was exempted from securities legislation under Section 2.3 and 2.13 of National Instrument 45-106 – Prospectus and Registration Exemptions. The Bacanora Shares are listed on the TSX Venture Exchange under the trading symbol "BCN". 

For further information or to receive a copy of the early warning report filed by Mr. Colin Orr-Ewing with securities regulatory authorities in Canada in connection with this press release, please contact Colin Orr-Ewing.

Contact Information

  • Mr. Colin Orr-Ewing
    011 44 207 374 2226