TORONTO, July 23 /CNW/ - CIM Investment Management Limited ("CIM") wishes
to clarify that it currently has control over 16.42% of the outstanding common
shares ("Shares") of Midlands Minerals Ltd. ("Midlands").
CIM has control over the Shares held by each of CIM Special Situations
Fund Limited ("CSSF") and CIM Discovery Fund Limited ("Discovery") (together,
the "Controlled Entities").
On February 20th, 2009, CSSF transferred in an off market private
transaction 4,343,283 Shares to Discovery. After the transfer CIM still had
control or direction over an aggregate of 9,100,000 Shares (CSSF held
4,756,717 Shares and Discovery held 4,343,283 Shares).
As of July 23rd, 2009, CIM has control or direction over an aggregate of
8,799,500 Shares (CSSF holds 4,600,457 Shares and Discovery holds 4,199,043
Shares), representing approximately 16.42% of the issued and outstanding
Midlands shares, based on a total of 53,581,000 Shares issued and outstanding,
as indicated on the TSX website.
The Shares held by the Controlled Entities are for investment purposes.
The Controlled Entities may, from time to time acquire additional
securities of Midlands, dispose of some or all of the existing or additional
securities, or may continue to hold the current position.
CIM Investment Management Limited is incorporated under the laws of
England which is authorized and regulated by the Financial Services Authority
(FSA Firm Reference Number 443440). CIM Investment Management is an asset
management company which manages, amongst others, Funds on behalf of the CIM
Special Situations Fund Limited and CIM Discovery Fund Limited.
For further information: Ashley Retter, CIM Investment Management
Limited, 1 Regent Street, London, SW1Y 4NS; CIM Special Situations Fund
Limited, P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin
Islands; CIM Discovery Fund Limited, P.O. Box 71, Craigmuir Chambers, Road
Town, Tortola, British Virgin Islands
