NEW YORK, Feb. 7, 2012 /CNW/ - Luxor Capital Group, LP ("Luxor"),
announced that as of 5:00 p.m. (Toronto time) today, the offer (the
"Offer") by Armant, LLC (the "Offeror"), an affiliate of investment
funds managed by Luxor, to purchase up to 215,386,435 of the issued and
outstanding common shares ("Common Shares") of Crocodile Gold Corp.
("Crocodile Gold") not owned by the Offeror or its affiliates (the
"Luxor Group") at a price of $0.62 per share, expired. At the expiry
time, an aggregate of approximately 170,618,271 Common Shares which,
together with the Common Shares already owned or controlled by the
Luxor Group, represents approximately 70% of the outstanding Common
Shares, were validly deposited under the Offer. As all of the terms
and conditions of the Offer have been satisfied, investment funds
affiliated with the Offeror have taken-up and accepted for payment all
of the deposited Common Shares in accordance with the terms of the
Immediately following the take-up of the Common Shares deposited under
the Offer, the Luxor Group has beneficial ownership of, and exercises
control or direction over, 218,897,966 Common Shares and 17,087,588
warrants of Crocodile Gold, which represent approximately 71% of the
outstanding Common Shares (after giving effect to the exercise of the
warrants). The Common Shares taken-up by the Luxor Group under the
Offer represent approximately 54% of the outstanding Common Shares.
This news release contains summary information only about the Offer.
Complete information about the Offer is contained in the Offer and
related take-over bid circular (and other documents related to the
Offer), copies of which are available at www.sedar.com.
The Offer is being made for the securities of a Canadian issuer and the
Offer is subject to Canadian disclosure requirements. Shareholders
should be aware that such disclosure requirements are different from
those of the United States.
SOURCE Luxor Capital Group, LP
For further information:
Luxor Capital Group, LP
1114 Avenue of the Americas
New York, New York 10036
Laurel Hill Advisory Group
366 Bay Street, Suite 200
North American Toll Free: 1-877-452-7184
Banks and Brokers and collect calls outside North America: (416) 304-0211