TORONTO, March 5 /CNW/ - Libra Advisors, LLC ("Libra"), announced today that it has acquired 2,069,000 special warrants of NuLoch Resources Inc. ("NuLoch") at a price of $1.45 per special warrant in connection with NuLoch's private placement. Each special warrant entitles the holder to receive one Class A common share of NuLoch exercisable at any time and for no additional consideration.
As a result of these acquisitions and together with the previously held common shares, Libra now holds 2,069,000 special warrants that, if exercised, would result in Libra holding approximately 2.6% of the outstanding Class A common shares of NuLoch and 6,788,891 Class A common shares of NuLoch representing approximately 8.6% of the total outstanding Class A common shares of NuLoch. The 6,788,891 Class A common shares together with those issuable on the conversion of the special warrants, would represent in aggregate approximately 11% of the total outstanding Class A common shares of NuLoch.
Libra acquired these common shares for investment purposes and may, from time to time, acquire additional securities of NuLoch or dispose of such securities as it may deem appropriate.
Libra is the investment advisor to Libra Fund, LP and Libra Offshore Master Fund, LP with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.
SOURCE LIBRA ADVISORS, LLC
For further information: For further information: Mr. Ranjan Tandon, Managing Member at (212) 350-5125