WEST PALM BEACH, FL, Dec. 11, 2015 /CNW Telbec/ - On December 10, 2015 Lloyd I. Miller, III acquired ownership of 6,000,000 common shares (the "Common Shares") of Corridor Resources Inc. ("Corridor") (TSX-CDH). Mr. Miller purchased the Common Shares through: (i) Milfam II L.P. ("M2"), of which Mr. Miller is the managing member, purchased 3,000,000 Common Shares, and (ii) Lloyd I. Miller Trust A-4 ("Trust A-4"), of which Mr. Miller is the investment advisor, purchased 3,000,000 Common Shares. The Common Shares were acquired through the facilities of the Chi-X Canada alternative trading system at a price of USD$0.2652 per common share or CDN$0.3606 per common share (based on the Noon Bank of Canada exchange rate), such Common Shares representing approximately 6.78% of the currently issued and outstanding common shares of Corridor.
As a result of the acquisition of the Common Shares, Mr. Miller, through M2 and Trust A-4, owns or has control or direction over an aggregate of 8,879,000 common shares of Corridor, representing approximately 10.02% of the currently issued and outstanding common shares.
The Common Shares were acquired for investment purposes. Depending on the evolution of Corridor's business, financial condition, the market for Corridor's securities, general economic conditions and other factors, Mr. Miller and his joint actors may acquire additional securities of Corridor, or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.
SOURCE Lloyd I. Miller, III
For further information: For inquiries or a copy of the related early warning report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact: Lloyd I. Miller, III, 3300 South Dixie Highway, Suite 1-365,West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399; Eric Fangmann, 3300 South Dixie Highway, Suite 1-365, West Palm Beach, Florida, USA 33405, Telephone: (561) 287-5399