Orion Mine Finance (Master) Fund I LP

September 24, 2013 10:59 ET

Orion Mine Finance Acquires Shares of Western Lithium

TORONTO, ONTARIO--(Marketwired - Sept. 24, 2013) - Orion Mine Finance (Master) Fund I LP ("Orion Mine Finance") reports that it has acquired direct ownership of common shares ("Shares") of Western Lithium USA Corporation ("Western Lithium") from Concordia Resource Corp. ("Concordia") pursuant to a private purchase arranged through the facilities of the Toronto Stock Exchange at a price of C$0.10 per Share for an aggregate amount of C$2,032,450.

After giving effect to the acquisition, Orion Mine Finance owns 20,324,500 Shares of Western Lithium representing approximately 19.9% of the issued and outstanding Shares. Subject to availability, price, the general state of the capital markets and the financial condition of Western Lithium from time to time, Orion Mine Finance may purchase or sell securities of Western Lithium. The investment by Orion Mine Finance completes the terms of a sales and voting agreement between Concordia and Western Lithium, whereby Concordia agreed to dispose of its interest in Western Lithium to certain strategic investors approved by Western Lithium.

In addition to its equity interest, Orion Mine Finance holds a gross royalty on all production from Western Lithium's Kings Valley Project. It will consist of a gross revenue royalty of 8% until funding tranches have been repaid. The royalty will then be reduced to 4% for the life of the project.

Orion Mine Finance provides flexible financing solutions to mining companies in the precious and base metals sectors for the purposes of developing, constructing, expanding, or acquiring mining projects. Orion Mine Finance has approximately US$1.14 billion under management (as of June 30, 2013), dedicated exclusively to the mine finance business. Orion Mine Finance was launched in 2012 and is one of the world's leading mining sector-focused investment funds.

Orion Mine Finance operates across the global metals industry with offices in New York, Denver, Sydney and Bermuda. Investors in Orion Mine Finance include college endowments, foundations, family offices, pensions and other institutional investors. For additional information about Orion Mine Finance, please visit www.orionminefinance.com.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the acquisition of Shares, please see Western Lithium's profile on the SEDAR website at www.sedar.com, email contact@orionresourcepartners.com or contact Investor Relations as set out below.

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