TORONTO, Dec. 3, 2021 /CNW/ - Pala Assets Holdings Limited
("Pala Assets") announces that on Wednesday, December 1, 2021 it acquired
beneficial ownership of, and control or direction over, an
aggregate of 10,000,000 common shares ("Common Shares") of
Nevada Copper Corp. (TSX: NCU) (the "Company") and 5,000,000
Common Share purchase warrants ("Warrants" and together with
the Common Shares, the "Securities") pursuant to a private
transaction with its affiliate, Pala Investments Limited ("Pala
Investments"). The Securities were acquired for an aggregate
purchase price of C$7,700,000.00.
Each Warrant is exercisable for one Common Share at a price of
C$1.00 per Warrant at any time until
May 29, 2023.
Immediately prior to the acquisition, Pala Assets did not own
any securities of the Company. Immediately following the
acquisition, Pala Assets had beneficial ownership of and exercised
control or direction over 10,000,000 Common Shares and 5,000,000
Warrants, representing approximately 2.24% of the issued and
outstanding Common Shares on a non-diluted basis (on the basis of
445,900,563 Common Shares being issued and outstanding as of the
date hereof). If Pala Assets fully exercises the Warrants acquired
under the transaction referred to herein, Pala Assets would hold an
aggregate 15,000,000 of the issued and outstanding Common Shares on
a partially-diluted basis, representing approximately 3.33% of the
issued and outstanding Common Shares (on the basis of 450,900,563
Common Shares being issued and outstanding).
Following completion of this acquisition, Pala Assets, together
with its affiliate and joint actor, Pala Investments,
owns 167,759,110 Common Shares, representing approximately
37.62% of the issued and outstanding Common Shares on a non-diluted
basis and 235,627,115 Common Share purchase warrants exercisable
into an aggregate of 81,209,774 Common Shares, representing
approximately 47.23% of the issued and outstanding Common Shares on
a partially-diluted basis (assuming the exercise in full of all of
Pala Assets' and Pala Investments' warrants and on the basis
of 527,110,337 Common Shares being issued and outstanding).
Pala Assets holds the Common Shares and Warrants for investment
purposes. Pala Assets or another controlled entity may acquire or
dispose of additional securities of the Company in the future
through the market, privately, or otherwise, as circumstances or
market conditions warrant. Any transaction that Pala Assets or
another controlled entity may pursue may be made at any time and
from time to time without prior notice and will depend on a variety
of factors, including, without limitation, the price and
availability of the Company's securities, subsequent developments
affecting the Company, its business and prospects, other investment
and business opportunities available to Pala Assets, general
industry and economic conditions, the securities markets in
general, tax considerations and other factors deemed relevant by
Pala Assets.
The head office of the Company is located at 61 E. Pursel Lane, Yerington, Nevada, United States, 89447. For further information
please contact Rich Matthews,
Investor Relations, at +1 604 757 7179.
Pala Assets is a company existing under the laws of Jersey and
its address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For
further information please refer to the Early Warning Report filed
on SEDAR under the Company's profile at www.sedar.com or contact
John Nagulendran at +41 41 560
9070.
SOURCE Pala Assets Holdings Limited.