SUN VALLEY, IDAHO--(Marketwired - Oct. 8, 2015) - Sun Valley Gold LLC ("Sun Valley") announced today that on October 7, 2015 it acquired control and direction over 8,475,000 units ("Units") of Dalradian Resources Inc. ("Dalradian") on behalf of client accounts over which Sun Valley has discretionary trading authority. The Units, which are beneficially owned by the client accounts, were acquired for a subscription price of $0.80 per Unit pursuant to a prospectus offering by Dalradian. Each Unit consists of one common share of Dalradian and one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.04 per share until October 7, 2017.
Following completion of the prospectus offering, Sun Valley exercises control and direction over an aggregate of 15,950,500 common shares and 10,075,000 warrants for and on behalf of client accounts. The 15,950,500 common shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 7.45% of the issued and outstanding common shares of Dalradian. If exercised, the 10,075,000 warrants over which Sun Valley exercises control and direction for and on behalf of client accounts would, together with such shares, represent approximately 11.60% of the issued and outstanding common shares of Dalradian (after giving effect to the exercise of such warrants, but not the exercise of any other share purchase warrants issued by Dalradian).
The securities of Dalradian were acquired for investment purposes. Sun Valley may increase or decrease their ownership of securities of Dalradian depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:
Linda J. Kish
Chief Legal Officer, Sun Valley Gold LLC
Tel: (208) 726-2399
Contact Information:
Linda J. Kish
Chief Legal Officer
(208) 726-2399