TORONTO, ONTARIO--(Marketwire - Dec. 6, 2011) - West Face Capital Inc. ("WFC"), announced that on December 6, 2011 it acquired 3,730,900 common shares (the "December 6 Shares") of Quadra FNX Mining Ltd. (the "Issuer") in the Canadian public markets on behalf of West Face Long Term Opportunities Global Master L.P. ("GMLP"), a fund managed by WFC. As a result, GMLP owns and WFC controls 12,000,000 common shares of the Issuer, representing approximately 6.27% of the outstanding common shares of the Issuer (based on 191,487,944 total outstanding common shares on November 9, 2011 as disclosed in the Issuer's Management Discussion and Analysis dated November 9, 2011).
The December 6 Shares were acquired on December 6, 2011, the date on which the Issuer announced that it has entered into a definitive agreement with KGHM Polska Miedź S.A. ("KGHM") pursuant to which KGHM has agreed to acquire all of the issued and outstanding common shares of the Issuer by way of plan of arrangement.
The securities of the Issuer were acquired for investment purposes. Depending on market and other conditions, WFC and GMLP may in the future acquire or dispose of the common shares or other securities of the Issuer or related financial instruments in the open market or in privately negotiated purchases or otherwise, in each case to the extent then permitted by applicable law and regulation.
West Face Capital Inc. is a Canadian-based investment management firm with assets under management of over $2.2 billion.
Contact Information:
Alexander A. Singh
Counsel & Secretary
(647) 724-8900