Stephens Investment Management, LLC

June 13, 2016 17:49 ET

Stephens Investment Management, LLC Announces Disposition of Investment in Miranda Gold Corp.

TORONTO, ONTARIO--(Marketwired - June 13, 2016) - Stephens Investment Management, LLC announces the disposition of 86,500 common shares of Miranda Gold Corp., on behalf of accounts fully managed by it, on January 14, 2016 (representing approximately 0.12% of the issued and outstanding common shares of Miranda) at $0.0836 per share through the facilities of the TSX Venture Exchange.

Prior to the transaction, Stephens, on behalf of accounts fully managed by it, exercised control or direction over 5,700,500 common shares of Miranda and 2,000,000 common share purchase warrants, representing approximately 7.68% of the outstanding common shares on a non-diluted basis, and approximately 10.1% assuming full exercise of the warrants. As a result of the transaction, Stephens, on behalf of accounts fully managed by it, currently exercises control or direction over 5,614,000 common shares and 2,000,000 common share purchase warrants representing approximately 7.56% of the outstanding common shares on a non-diluted basis and 9.99% assuming full exercise of all of the warrants. Stephens does not itself own any common shares. A total of 1,000,000 common shares are beneficially owned by a portfolio manager of Stephens. The remaining common shares are owned by Orphan Fund, LP who may also be deemed to be acting jointly and in concert with Stephens.

The common shares are held 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 Miranda's profile at www.sedar.com and may also be obtained by contacting Stephens at (415) 677-5440, One Ferry Building, Suite 255, San Francisco, California, U.S.A. 94111. Miranda is located at 15381 - 36th Avenue, Surrey, British Columbia V3Z 0J5.

Contact Information

  • Paul Stephens
    (415) 677-5440