Funds Managed by Libra Advisors, LLC Acquire Common Shares of St. Eugene Mining Corporation Limited for Investment Proposes

TORONTO, Feb. 23 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. have acquired a total of 2,000,000 common shares at a price of CDN $0.18 per share of St. Eugene Mining Corporation Limited ("St. Eugene Mining").

As a result of this acquisition and together with previously held securities of St. Eugene Mining, Libra Fund, L.P., Libra Offshore Master Fund, L.P. and Libra Fund II (Luxembourg) S.àr.l. (collectively, the "Funds") now own 9,050,000 common shares, representing approximately 7.6% of the total outstanding common shares of St. Eugene Mining and 3,525,000 warrants of St. Eugene Mining that, if exercised, together represent approximately 10.3% of the total outstanding common shares of St. Eugene Mining.

The Funds acquired the common shares for investment purposes and may, from time to time, acquire additional securities of St. Eugene Mining or dispose of such securities as it may deem appropriate.

Libra is the investment advisor to the Funds and maintains its principal office at 777 Third Avenue, 27th Floor, New York, New York 10017.


SOURCE Libra Advisors, LLC

For further information:

Mr. Ranjan Tandon, Managing Member, at (212) 350-5125

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Libra Advisors, LLC

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