Pacific Road Resources Funds

March 31, 2017 15:45 ET

Pacific Road Resources Funds Announce Holdings of Trek Mining Following Completion of Business Combination of Luna Gold and JDL Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2017) - The Pacific Road Resources Funds ("PRRF") announce that, upon completion of the business combination between Luna Gold Corp. and JDL Gold Corp. to form Trek Mining Inc. (the "Corporation"), PRRF has acquired an aggregate of 23,824,969 common shares in the capital of the Corporation (each a "Common Share") and warrants to purchase an additional 23,724,350 Common Shares. PRRF's warrants are comprised of 6,470,000 Class A Warrants to purchase an aggregate of 7,149,350 Common Shares, with each Class A warrant being exercisable at an exercise price of C$1.25, and 15,000,000 Class B Warrants to purchase an aggregate of 16,575,000 Common Shares, with each Class B Warrant being exercisable at an exercise price of C$1.00.

The 23,824,969 Common Shares represent approximately 13.4% of the outstanding Common Shares. Assuming full exercise of PRRF's warrants to purchase 23,724,350 Common Shares, PRRF would hold 47,549,319 Common Shares, representing approximately 23.6% of the then issued and outstanding Common Shares.

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