TORONTO, ONTARIO--(Marketwired - May 5, 2014) - Salida Capital International Limited ("Salida") announced that it, on behalf of certain funds it manages and advises (the "Funds"), acquired an aggregate of 4,000,000 common shares ("Common Shares") of Brilliant Resources Inc. ("Brilliant") today at an average price of $0.085 per share in the open market (the "Acquisition"). The Common Shares acquired pursuant to the Acquisition represent an increase of approximately 2.68% of Brilliant's 149,454,769 issued and outstanding Common Shares as reported in its Management's Discussion and Analysis dated February 28, 2014 (the "MD&A").
As a result of the Acquisition, the Funds beneficially own, and Salida exercises control and direction over, an aggregate of 29,403,464 Common Shares, representing approximately 19.67% of Brilliant's 149,454,769 issued and outstanding Common Shares as reported in the MD&A.
The securities of Brilliant were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Salida, on behalf of the Funds, may from time to time acquire additional securities of Brilliant, or continue to hold or dispose of some or all of the securities of Brilliant in the open market, by private agreement or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
For additional information, or for a copy of the early warning report filed in respect of the above transactions, please contact Daniel Guy at 441-293-0960 (Clarendon House, 2 Church Street, Hamilton HM 11 Bermuda).
Contact Information:
441-293-0960