Prestige Times Limited

December 19, 2013 16:45 ET

Prestige Times Limited Files Early Warning Report

TORONTO, ONTARIO--(Marketwired - Dec. 19, 2013) - On December 6, 2013, Prestige Times Limited ("PT") acquired 6,250,000 Units (the "Units") of Ferrum Americas Mining Inc. ("Ferrum"). Each Unit consists of 1 common share and 1 common share purchase warrant.

The common shares represent 14% of the outstanding common shares of Ferrum.

The shares were acquired by PT at a price of $0.08 per share pursuant to a subscription agreement between Ferrum and PT, announced by Ferrum on December 10, 2013. The Shares were acquired in reliance on the prospectus exemption contained in section 2.11 of National Instrument 45-106 of the Canadian Securities Administrators.

The share warrants have an exercise price of $0.20 and are valid for a 36 month period.

The shares were acquired for investment purposes. Subject to availability, price, the general state of the capital markets and the financial condition of Ferrum from time to time, PT may purchase or sell securities of Ferrum.

Contact Information

  • Prestige Times Limited
    Saifeng (Adam) Yu