SUN VALLEY, Idaho, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Sun Valley Gold LLC (“Sun Valley”) announced today that it has acquired control and direction over an aggregate of 41,963,000 common shares (“Common Shares”) of West Kirkland Mining Inc. (“West Kirkland”) for and on behalf of Sun Valley Gold Master Fund, Ltd. (the “Master Fund”), a client account over which it has discretionary trading authority. The Common Shares were acquired on August 17, 2017, pursuant to a private agreement with an existing shareholder of West Kirkland, for a purchase price of $0.06 per share.
Following the acquisition, Sun Valley exercises control and direction over an aggregate of 158,405,400 Common Shares and 1,778,000 warrants, in each case for and on behalf of the Master Fund. The 158,405,400 Common Shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund represent approximately 45.86% of the issued and outstanding Common Shares. If exercised, the 1,778,000 warrants over which Sun Valley exercises control and direction for and on behalf of the Master Fund would, together with the 158,405,400 Common Shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund, represent approximately 46.14% of the issued and outstanding Common Shares (after giving effect to the exercise of such warrants, but not the exercise of any other warrants issued by West Kirkland).
The securities of West Kirkland were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of West Kirkland 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:
Linda J. Kish,
Chief Legal Officer, Sun Valley Gold LLC
Tel: (208) 726-2399
Fax: (208) 726-0842