SUN VALLEY, IDAHO--(Marketwired - July 29, 2016) - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over an aggregate of 5,000,000 common shares ("Common Shares") of Belo Sun Mining Corp. ("Belo Sun") on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired pursuant to a prospectus offering on July 27, 2016 for a purchase price of $0.85 per share. Of the 5,000,000 Common Shares over which Sun Valley acquired control and direction, the Master Fund acquired beneficial ownership of 3,880,000.
Following the acquisition, Sun Valley exercises control and direction over an aggregate of 74,651,681 Common Shares for and on behalf of client accounts. The 74,651,681 Common Shares over which Sun Valley exercises control and direction represent approximately 16.07% of the issued and outstanding Common Shares.
Following the acquisition, the Master Fund beneficially owns 47,821,634 Common Shares. The 47,821,634 Common Shares beneficially owned by the Master Fund represent approximately 10.29% of the issued and outstanding Common Shares.
The securities of Belo Sun were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of Belo Sun depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:
Contact Information:
Linda J. Kish
Chief Legal Officer
(208) 726-2399
(208) 726-0842 (FAX)