GEORGE TOWN, Grand Cayman, May 31, 2017 /CNW/ - OakRun Precious Metals Fund, Ltd. ("OakRun Fund") announced today that it has acquired ownership of 1,800,000 units of Zephyr Minerals Ltd. (TSXV: ZFR) ("Zephyr") for an aggregate purchase price of $504,000 ($0.28 per unit). Each Unit is comprised of one common share and one half of one common share purchase warrant of Zephyr, with each whole warrant entitling the holder to acquire one common share of Zephyr for $0.42 at any time up to May 29, 2019.
OakRun Capital LLC, a company owned and managed by Scott Rhodenizer, is the investment manager of OakRun Fund. OakRun Capital LLC has voting control of the shares of Zephyr owned by OakRun Fund.
The 1,800,000 Units were purchased by way of a private placement and were acquired for investment purposes. OakRun Fund, OakRun Capital LLC and/or Scott Rhodenizer may from time to time increase or decrease their holdings of common shares of Zephyr, depending on market and other conditions.
Following the acquisition, OakRun Fund now owns 11,014,284 common shares of Zephyr, which represents approximately 29.6% of all outstanding common shares of Zephyr. In addition, OakRun Fund owns 5,687,500 share purchase warrants of Zephyr.
SOURCE OakRun Precious Metals Fund, Ltd.
For further information: Further details may be obtained from the Early Warning Report filed on SEDAR by OakRun Fund under Zephyr's profile or by contacting Scott Rhodenizer at 305-799-7711.