CAYMAN ISLANDS, April 2, 2014 /CNW/ - Firebird Global Master Fund, Ltd. ("FGMF") announces that it transferred to its parent company, Firebird Global Master Fund Holdings, Ltd. ("FGMF Holdings"), all of the securities it held in the share capital of War Eagle Mining Company Inc. (TSX-V: WAR) (the "Issuer").
The aggregate number of securities of the Issuer currently held by FGMF Holdings is 1,820,175 common shares and 1,403,509 warrants to acquire the same number of common shares in the share capital of the Issuer. FGMF no longer holds any securities in the share capital of the Issuer.
The 1,820,175 common shares held by FGMF Holdings represent approximately 11.79% of the outstanding common shares of the Issuer.
In addition, assuming the exercise of the above-mentioned warrants to acquire additional common shares of the Issuer, the total security holding of FGMF Holdings in the share capital of the Issuer would be 3,223,684 common shares, representing approximately 19.14% of the outstanding common shares of the Issuer, including the common shares deemed to be acquired pursuant to the exercise of such warrants.
The securities are held for investment purposes. FGMF Holdings may, from time to time, acquire additional securities of the Issuer, may continue to hold its present position or may dispose of its securities.
The securities transferred by FGMF to FGMF Holdings were transferred at their then fair market value in the context of a reorganization.
No other joint actor of FGMF Holdings currently holds any securities of the Issuer.
This press release is being issued in order to comply with the disclosure requirements under applicable securities legislation. This press release is not an admission that an entity named in the press release owns or controls any described securities or is a joint actor with anyone else.
SOURCE: FIREBIRD GLOBAL MASTER FUND, LTD.
For further information: or to obtain a copy the report, contact: Mr. James Passin, Director, Firebird Global Master Fund, Ltd., (212) 698-9260, JPassin@fbird.com