Loading, Please Wait...
ST PETER PORT, GUERNSEY--(Marketwired - Mar 24, 2016) - Zebra Holdings and Investments (Guernsey) Limited ("Zebra"), a company controlled by a trust settled by the late Adolf H. Lundin, announced today that it had acquired 8'333'333 common shares of Lowell Copper ("Common Shares") for Cdn$ 0.1199 per Common Share representing approximately 11.63 % of the Company's then issued and outstanding share capital and 4'166'666 share purchase warrants ("Warrants") at Cdn$ 0.0001 exercisable into one common share of the Company at Cdn$ 0.20 for a period of 60 months from the date of issuance. The Common Shares and the Warrants were acquired in the private placement of Units at Cdn$ 0.12 announced by the Company on February 22, 2016.
As a result of this acquisition, Zebra now holds a total of 17'814'201 common shares or approximately 17.74 % whereas Lorito Holdings (Guernsey) Limited's ("Lorito"), a company controlled by the same trust, holdings remained unchanged at 7'629'019 Common Shares representing approximately 7.60 % of the Company's issued and outstanding share capital. Collectively, Zebra and Lorito now hold a total of 25'443'220 Common Shares representing approximately 25.34 % of the Company's issued and outstanding share capital.
In addition, Zebra held 2'777'778 Warrants and now holds a total of 6'944'444 Warrants whereas Lorito continues to hold a total of 1'851'853 Warrants. Jointly, Zebra and Lorito now hold a total of 8'796'297 Warrants exercisable into the same number of Common Shares of Lowell Copper.
Lorito and Zebra are joint actors with respect to their holdings in Lowell Copper and have acquired the shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in Lowell Copper depending upon the business and prospects of Lowell Copper and depending upon future market conditions.
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.
Lorito Holdings (Guernsey) Limited
Zebra Holdings and Investments (Guernsey) Limited
Mr. Aksel Azrac
+ 41 22 595 18 75
+ 41 22 595 18 00