TORONTO, May 16 /CNW/ - Libra Advisors, LLC ("Libra") announced today
that Libra Fund II (Luxembourg) S.à r.l. (the "Fund") acquired a total
of 4,000,000 units at a price of $0.75 per unit of Solvista Gold Corporation ("Solvista") upon conversion of
subscription receipts acquired by the Fund prior to the amalgamation of
Alpha One Corporation and Solvista Gold Corporation on April 27, 2011.
Each unit is comprised of one common share and one-half of one common
share purchase warrant (the "Warrant") in the capital of Solvista.
Each whole Warrant is exercisable for one common share at a price of
$1.10 for a period of 24 months from the date of issuance.
As a result of the conversion, the Fund now owns 4,000,000 common
shares, representing approximately 7.5% of the total outstanding common
shares of Solvista and 2,000,000 Warrants of Solvista that, if
exercised, together represent approximately 10.8% of the total
outstanding common shares of Solvista.
The Fund acquired the units for investment purposes and may, from time
to time, acquire additional securities of Solvista or dispose of such
securities as it may deem appropriate.
Libra is the investment advisor to the Fund and maintains its principal
office at 777 Third Avenue, 27th Floor, New York, New York 10017.
SOURCE Libra Advisors, LLC
For further information:
please contact Mr. Ranjan Tandon, Managing Member, at (212) 350-5125.