Sun Valley Gold LLC: Control and Direction Over Securities of Belo Sun Mining Corp.
August 20 2018 - 7:56PM
Sun Valley Gold LLC (“Sun Valley”) announced today
that it has acquired control and direction over an aggregate of
16,700,000 common shares (“Common Shares”) of Belo Sun Mining Corp.
(“Belo Sun”) on behalf of client accounts, including Sun Valley
Gold Master Fund, Ltd. (the “Master Fund”), over which it has
discretionary trading authority. The Common Shares were acquired on
August 20, 2018, pursuant to a private agreement of with an
existing shareholder of Belo Sun, for a purchase price of $0.17 per
share.
Following the acquisition, Sun Valley exercises control and
direction over an aggregate of 103,825,974 Common Shares for and on
behalf of client accounts. The 103,825,974 Common Shares over which
Sun Valley exercises control and direction for and on behalf of
client accounts represent approximately 23.46% of the issued and
outstanding Common Shares.
Of the 16,700,000 Common Shares over which Sun Valley acquired
control and direction, 11,706,700 were acquired on behalf of the
Master Fund. Following the acquisition, the Master Fund
beneficially owns 68,980,575 Common Shares, representing
approximately 15.58% of the issued and outstanding Common
Shares.
The securities of Belo Sun were acquired for investment
purposes. Sun Valley and the Master Fund may increase or decrease
their ownership of securities of Belo Sun 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 LLCTel: (208)
726-2399Fax: (208) 726-0842