VANCOUVER, Feb. 11 /CNW/ - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on February 10, 2010 he sold 8,800,000 common shares of Amerigo Resources Ltd. ("Amerigo") which he had indirect ownership and control of in an ordinary course trade through the facilities of the Toronto Stock Exchange. Later on February 10, 2010, Mr. Beaty indirectly acquired ownership and control of 16,760,000 common shares of Amerigo pursuant to the exercise of 16,760,000 warrants of Amerigo indirectly held by Mr. Beaty. The aggregate exercise price of these warrants was CDN$5,530,800, or CDN$0.33 per common share. As a result of these transactions, Mr. Beaty now owns, directly or indirectly, a total of 33,963,500 common shares of Amerigo representing approximately 19.87% of the total number of common shares of Amerigo currently outstanding.
Mr. Beaty no longer holds, directly or indirectly, any warrants or other convertible securities of Amerigo.
Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Amerigo for investment purposes.
Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Amerigo.
Other than Kestrel Holdings Ltd., a company which is wholly-owned by Mr. Beaty, Mr. Beaty does not own or control any securities of Amerigo with, nor is Mr. Beaty a joint actor with, another entity.
SOURCE ROSS J. BEATY
For further information: For further information: or to obtain a copy of the subject early warning report, please contact: Ross J. Beaty, 1500 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, Telephone: (604) 684-1175, Facsimile: (604) 684-0147