|By PR Newswire||
|August 13, 2014 06:21 PM EDT||
DENVER, CO, Aug. 13, 2014 /CNW/ - Resource Capital Fund IV L.P. ("RCF IV") and Resource Capital Fund VI L.P. ("RCF VI") report that they have filed a revised early warning report dated August 13, 2014 (the "Revised Report") in respect of the common shares of Avanti Mining Inc. (the "Common Shares") that they collectively own or control. The Revised Report corrects certain information presented in the early warning report dated August 5, 2014 (the "Previous Report"). RCF IV and RCF VI (collectively, "RCF") are under common management by RCF Management LLC.
The Previous Report indicated that prior to receiving certain Common Shares pursuant to loan agreements between RCF and Avanti Mining Inc. (the "Acquired Shares"), RCF owned and controlled 161,524,535 Common Shares representing approximately 34.5% of the outstanding Common Shares and that including the Acquired Shares, RCF owned and controlled 224,978,454 Common Shares representing approximately 42.3% of the outstanding Common Shares.
In fact, prior to receiving the Acquired Shares, RCF owned and controlled 195,439,933 Common Shares representing approximately 41.7% of the outstanding Common Shares. Including the Acquired Shares, RCF owns and controls 258,875,852 Common Shares representing approximately 48.7% of the outstanding Common Shares.
The Acquired Shares were acquired for investment purposes. RCF may in the future decide to invest in the Common Shares and, if so, RCF will evaluate any future investment in Avanti from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in Avanti as circumstances require.
For further information and to obtain a copy of the revised early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Avanti's profile on the SEDAR website www.sedar.com or contact:
SOURCE Resource Capital Fund IV L.P.
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