Praetorian Resources Limited
LSE : PRAE

Praetorian Resources Limited

June 27, 2013 12:18 ET

Praetorian Resources Announces Holdings in Polar Star Mining Corporation

ST. PETER PORT, GUERNSEY--(Marketwired - June 27, 2013) - Praetorian Resources Limited ("Praetorian" or the "Offeror") (LSE:PRAE), of 11 New Street, St. Peter Port, Guernsey, GY1 2PF, announces that pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators ("NI 62-103") it has acquired ownership of 1,314,500 common shares of Polar Star Mining Corporation ("Polar Star") at a price of $0.12 per common share on 26 June 2013.

Praetorian directly and indirectly owns 25,785,666 common shares of Polar Star (representing approximately 13.84% of the issued and outstanding Polar Star common shares at this time).

The securities of Polar Star are held by Praetorian for investment purposes. Praetorian expects to review from time to time his investment in Polar Star and may, depending on the market and other conditions: (i) acquire securities or related financial instruments of Polar Star in the open market, in privately negotiated transactions or otherwise, and/or (ii) dispose of all or a portion of the securities or related financial instruments of Polar Star over which it now or hereafter exercises, or may be deemed to exercise, control or direction, or owns.

Additional information is provided in the early warning report filed by Praetorian under Polar Star's SEDAR profile at www.sedar.com pursuant to NI 62-103.

Contact Information

  • For further information or a copy of the
    early warning report please contact:
    Robert King
    +44 1481 726034