Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
MOSCOW, RUSSIA–(Marketwire – July 18, 2012) – Maxim Finskiy (“Finskiy“), 22 Tverskaya Ulitsa, Moscow 125009, Russia, announces that pursuant to a private placement financing (the “Private Placement“), he acquired, through a company wholly-owned by him, beneficial ownership of and/or control or direction over 55,830,500 common shares (the “Acquired Shares“) of White Tiger Gold Ltd. (“White Tiger Gold“). Finskiy paid CDN$0.10 per White Tiger Gold common share pursuant to the Private Placement.
Prior to the acquisition of the Acquired Shares, Finskiy, through companies wholly-owned by him, beneficially owned and/or exercised control or direction over 129,765,294 White Tiger Gold common shares, representing approximately 39.7% of the issued and outstanding common shares of White Tiger Gold. Following the acquisition of the Acquired Shares, Finskiy beneficially owns and/or exercises control or direction over 185,595,794 common shares of White Tiger Gold, representing approximately 48.45% of the issued and outstanding common shares (on an undiluted basis).
The Private Placement was a private transaction outside of any market or other facility.
The Acquired Shares were acquired for investment purposes. Finskiy may, in the future, increase or decrease his ownership of securities of White Tiger Gold, directly or indirectly, from time to time depending upon the business and prospects of White Tiger Gold and future market conditions. As disclosed in White Tiger Gold’s press releases of July 4, 2012 and July 5, 2012, White Tiger Gold proposes to issue common shares to Finskiy, at a price of CDN$0.10 per common share, to settle approximately USD$5.2 million in loans owing to Finskiy and Kirkland Intertrade Corp. (a company beneficially owned, directly or indirectly, by Finskiy) by White Tiger Gold.
An early warning report (the “EWR“) will be filed on SEDAR and will be available for review at www.sedar.com under White Tiger Gold’s profile. A copy of the EWR can be obtained from the contact below.
