Sun Valley Gold LLC

July 18, 2016 16:10 ET

Sun Valley Gold LLC: Control and Direction Over Common Shares of Dalradian Resources Inc.

SUN VALLEY, IDAHO--(Marketwired - July 18, 2016) - Sun Valley Gold LLC ("Sun Valley") announced today that it has disposed of 500,000 common shares ("Common Shares") of Dalradian Resources Inc. ("Dalradian") for and on behalf of client accounts over which it has discretionary trading authority. The Common Shares were sold over the facilities of the Toronto Stock Exchange for $1.07 per share.

Following the disposition, Sun Valley exercises control and direction over an aggregate of 12,450,000 Common Shares and 10,075,000 share purchase warrants ("Warrants"), in each case for and on behalf of client accounts. The 12,450,000 Common Shares over which Sun Valley exercises control and direction represent approximately 5.74% of the issued and outstanding Common Shares. If exercised, the 10,075,000 Warrants over which Sun Valley exercises control and direction would, together with the 12,450,000 Common Shares over which Sun Valley exercises control and direction, represent approximately 9.92% of the issued and outstanding Common Shares (after giving effect to the exercise of such Warrants, but not the exercise of any other share purchase warrants issued by Dalradian).

Sun Valley sold the Common Shares as part of its overall portfolio investment strategy. Sun Valley may increase or decrease its 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.

Contact Information

  • Linda J. Kish
    Chief Legal Officer
    Sun Valley Gold LLC
    (208) 726-2399
    (208) 726-0842 (FAX)