|By Marketwired .||
|August 28, 2014 01:10 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/28/14 -- Minsud Resources Corp. (TSX VENTURE:MSR) ("Minsud" or the "Company") announces that Compania de Tierras Sud Argentino S.A. ("CTSA"), an insider and control person of the Company, and Mr. Carlos Adamo acquired 2,912,000 units and 1,916,667 units of the Company, respectively, in connection with the recently completed private placement of the Company announced on the date hereof.
CTSA now owns (a) 16,112,300 common shares of the Company ("Common Shares"), (b) 2,912,000 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on August 28, 2016, (c) 3,800,000 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on February 21, 2016, (d) 1,200,000 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on September 10, 2015, and (e) 790,000 Common Shares issuable pursuant to a put and call option agreement with the Issuer, representing, in the aggregate, approximately 34.13% of the total issued and outstanding Common Shares, calculated on a partially diluted basis assuming the exercise of the convertible securities described in items (b), (c), (d) and (e) above. CTSA's Vice President, Diego Eduardo Perazzo, who may be considered a joint actor with respect to CTSA, owns (a) directly 880,803 Common Shares, (b) 100,000 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on August 28, 2016, (c) 500,000 Common Shares issuable upon the exercise of stock options expiring on June 9, 2016, (d) 25,000 Common Shares issuable upon the exercise of stock options expiring on August 17, 2017, (e) 40,000 Common Shares issuable upon the exercise of stock options expiring on September 10, 2018 and (f) 120,000 Common Shares issuable upon the exercise of stock options expiring on May 12, 2019, representing, in the aggregate, approximately 2.57% of the total issued and outstanding Common Shares, calculated on a partially diluted basis assuming the exercise of the convertible securities described in items (b), (c), (d), (e) and (f) above. In aggregate, CTSA and its joint actor own 16,993,103 Common Shares (26,480,103 including Common Shares issuable upon the exercise or conversion of the securities described above), representing approximately 26.55% of the total issued and outstanding Common Shares (approximately 36.03% on a partially diluted basis assuming the exercise of the convertible securities described above).
Mr. Adamo now owns (a) 3,583,334 Common Shares, (b) 1,666,667 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on February 21, 2016, and (c) 1,916,667 Common Shares issuable upon the exercise of Common Share purchase warrants expiring on August 28, 2016, representing, in the aggregate, approximately 10.60% of the total issued and outstanding Common Shares, calculated on a partially diluted basis assuming the exercise of the convertible securities described in items (b) and (c) above.
The above purchasers acquired and intend to hold the securities for investment purposes. The purchasers, depending on market and other conditions, may increase their beneficial ownership, control or direction over the Common Shares or other securities of Minsud through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise, in accordance with applicable securities regulations. Depending on market or other conditions, the purchasers may sell all or a portion of the Common Shares.
An early warning report with additional information with respect to the above has been filed on SEDAR at www.sedar.com.
About Minsud Resources Corp.:
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, including 28,000 has in Santa Cruz Province, Argentina.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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