Pacific Road Resources Funds

January 18, 2017 20:08 ET

Pacific Road Resources Funds Announce Exercise of Warrants to Purchase Common Shares of Luna Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 18, 2017) - The Pacific Road Resources Funds ("PRRF") announce that they have exercised warrants to purchase an aggregate of 3,530,000 common shares ("Common Shares") in the capital of Luna Gold Corp. (the "Corporation") at an exercise price of C$1.25 per Common Share. PRRF paid an aggregate exercise price of C$4,412,500.

When combined with the 158,099 Common Shares issued to PRRF in September 2016 (1,580,992 pre-consolidation Common Shares) and the 311,482 Common Shares issued to PRRF for December 2016, in each case in satisfaction of interest owing under promissory notes previously issued by the Corporation to PRRF, PRRF has acquired an aggregate of 3,999,581 Common Shares, representing approximately 9.1% of the Common Shares.

When aggregated with the 17,561,479 Common Shares and warrants to purchase 21,470,000 Common Shares previously acquired, PRRF holds an aggregate of 21,561,060 Common Shares and warrants to purchase 21,470,000 Common Shares. The 21,561,060 Common Shares represent approximately 49.2% of the issued and outstanding Common Shares of the Corporation as of January 2017. Assuming full exercise of the Series A Warrants and Series B Warrants held by PRRF, PRRF would hold 43,031,060 Common Shares, representing approximately 65.9% of the then issued and outstanding common shares of the Corporation.

PRRF has purchased the securities for investment purposes and may or may not purchase or sell securities of the Corporation, or exercise its warrants to purchase Common Shares, in the future on the open market or in private transactions, depending on market conditions and other factors. PRRF currently has no other plans or intentions that relate to its investment in the Corporation. Depending on market conditions, general economic and industry conditions, the Corporation's business and financial condition and/or other relevant factors, PRRF may develop other plans or intentions in the future.

A copy of the early warning report filed in connection with the investment will be available on the Corporation's profile on SEDAR at www.sedar.com or may be obtained by contacting Greg Dick at +61 2 9241 1000.

About Pacific Road Resources Funds and Pacific Road Capital Management Pty Limited

The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining related infrastructure and mining services businesses located throughout resource-rich regions of the world. The Pacific Road Resources Funds are managed and advised by Pacific Road Capital Management Pty Ltd ("PRCM"). The PRCM team, located in Sydney, Australia, San Francisco, USA, and Vancouver, Canada, is comprised of experienced mining investment professionals that have extensive knowledge and experience in the mining and infrastructure sectors, including considerable operating, project development, transactional and investment banking experience. For further information on the Pacific Road Resources Funds and PRCM, please go to their website at www.pacroad.com.au.

Contact Information

  • Greg Dick
    +61 2 9241 1000