Paul Stephens

March 26, 2015 14:57 ET

Paul H. Stephens Announces Acquisition of Equity Interests in Orosur Mining Inc.

TORONTO, ONTARIO--(Marketwired - March 26, 2015) - Paul Stephens ("Stephens") announces that he has acquired 4,572,000 common shares of Orosur Mining Inc. ("Orosur") (representing approximately 4.73% of the outstanding common shares of Orosur) at an acquisition cost of Cdn.$0.15 per share.

As a result of this acquisition, Stephens currently owns directly or indirectly, an aggregate of 8,583,125 common shares representing approximately 8.88% of the outstanding common shares. The common shares were purchased through the facilities of the Toronto Stock Exchange. Stephens, as portfolio manager at Stephens Investment Management, LLC, also exercises control or direction over 3,301,000 common shares held by Orphan Fund, LP; thereby collectively owns, or exercises control or direction over, 11,884,125 common shares representing approximately 12.3% of the outstanding common shares.

The common shares were acquired for investment purposes. Stephens has a long-term view of the investment, and Stephens does not intend at this time to acquire additional shares, but may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of an "Early Warning Report" filed with the applicable Canadian securities regulatory authorities will be available under Orosur's profile at www.sedar.com and may also be obtained by contacting Stephens at (415) 677-5440.

The issuance of this news release is not an admission that an entity named herein owns or controls any described securities or is a joint actor with another named entity.

Contact Information

  • Paul Stephens
    (415) 677-5440