DDJ Overseas Corp. Acquires Shares of Mountain Province Mining Inc.
Each Special Warrant is exercisable on or before the earlier of October 10, 1997 or five business days after the date on which the last of the receipts for the Company's final prospectus qualifying distribution of the Units (as defined below) is issued by the appropriate securities regulatory authorities. Any Special Warrants not exercised prior to such earlier date will be deemed to be exercised in full. The Special Warrants are exercisable into one Unit consisting of one Common share of the Company and one-half of one Common share purchase Warrant. Each whole Common share purchase Warrant will entitle the holder to acquire an additional Common share at a price of $5.75 on or before December 31, 1997.
Subsequent to the private placement DDJ Overseas Corp. acquired an additional 179,100 Common shares of the Company through open market transactions.
As at October 10, 1996, DDJ Overseas Corp. held 1,891,750 Common shares of the Company, (including the 450,000 Common shares relating to the Special Warrants), which, together with the 179,100 Common shares acquired by it in subsequent market purchases, the 489,650 Common shares held on October 10, 1996 by The Copernicus Fund, L.P., a Massachusetts limited partnership, that is managed by an entity under common control with the manager of DDJ Overseas Corp., the 46,300 Common shares acquired in subsequent market purchases by The Copernicus Fund, L.P., and Kepler Overseas Corp., another affiliated investment fund, and the 75,000 Common shares held on October 10, 1996 by the portfolio manager for the foregoing funds, aggregates 2,681,000 Common shares or 12.39 percent of the issued Common shares of the Company (assuming the 450,000 Common shares relating to the Special Warrants have been issued).
DDJ Overseas Corp. and the other investment entities set forth above acquired these securities as an equity investment in the Company in pursuit of specified investment objectives established by each of such entity's investors. DDJ Overseas Corp. and such other investment entities may continue to purchase shares of the Company subject to a number of factors, including, among others, the availability of shares for sale at what it considers to be reasonable prices and other investment opportunities that may be available.
CONTACT: DDJ Overseas Corp.
Amy Furman, 809/949-6770
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|Date:||Nov 22, 1996|
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