SYDNEY, Australia, Aug. 10, 2016 /CNW/ - ACT2 Pty Limited ("ACT2") GPO Box 2895, Sydney NSW 2001 Australia announces that it sold 10,597,554 Common Shares of Resource Capital Gold Corp. (the "Company") in pre-arranged trades pursuant to a previously announced "gypsy swap" conducted in connection with a private placement of an aggregate of 25,000,000 Common Shares of the Company. Concurrently, ACT2 acquired an aggregate of 10,597,554 Common Shares of the Company under the private placement.
The net effect of the transactions is that ACT2's ownership of Common Shares of the Company remains at 10,597,554 Common Shares and its percentage ownership of the Company decreased from 19.9% to 13.58% as a result of the Company's private placement.
ACT2 is controlled by Gary Lewis, the Company's former Chief Executive Officer.
ACT2 acquired the securities for investment purposes. ACT2 may increase or decrease its beneficial shareholdings from time to time as it may determine appropriate for investment purposes. ACT2 may also from time to time seek to have additional indebtedness owing by the Company to ACT2 settled through the issuance of common shares.
A copy of the early warning report relating to ACT2's acquisition of the common shares will be available under the Company's profile on SEDAR. A copy of the early warning report being filed by ACT2 may also be obtained by contacting the Company at 806 886-3317.
SOURCE ACT2 Pty Ltd.