TORONTO, Feb. 10 /CNW/ - Pala Investments Holdings Limited ("PIHL") announced today that between February 8, 2011 and February 9, 2011,
PIHL acquired of a total of 4,000,000 common shares of Mercator
Minerals Ltd. ("Mercator"), representing approximately 2.02% of the 197,621,466 issued and
outstanding common shares of Mercator, as known by PIHL. The common
shares were acquired through the facilities of the Toronto Stock
After giving effect to the acquisitions referred to above, PIHL owns and
controls, directly and indirectly, a total of 31,088,800 common shares
representing approximately 15.73% of the issued and outstanding shares
of Mercator, as known by PIHL.
The average consideration for each common share of Mercator acquired was
CDN$4.54 per common share. PIHL has acquired the common shares for
investment purposes and may increase or decrease the investment in the
common shares depending upon future market conditions.
PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For
further information please refer to the Early Warning Report posted on
SEDAR or contact Colin Murray at 011 41 41 560 9070.
Pala Investments Holdings Limited is a US$1 billion multi-strategy
investment company dedicated to investing in, and creating value
across, the mining sector in both developed and emerging markets. Pala
Investments' exclusive investment advisor, Pala Investments AG, has
extensive experience within the mining sector. Pala Investments seeks
to assist companies in which it has long-term shareholdings by
providing strategic advice and innovative financing solutions. For more
information, visit www.pala.com.
Certain statements in the press release are forward-looking statements
and are prospective in nature, including statements with respect to Pala's
future intentions regarding the securities of Mercator that it owns. Forward-looking
statements are not based on historical facts, but rather on current expectations and
projections about future events, and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results expressed or
implied by the forward-looking statements. These statements generally can be identified by the use of
forward-looking words such as "may", "should", "will", "could", "intend", "estimate",
"plan", "anticipate", "expect", "believe" or "continue", or the negative thereof
or similar variations. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations. Such forward-looking
statements should therefore be construed in light of such factors, and Pala is not under
any obligation, and expressly disclaims any intention or obligation, to update or revise any
forward-looking statements, whether as a result of new information, future events or
SOURCE Pala Investments Holdings Limited
For further information:
please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070.