VANCOUVER, June 25 /CNW/ - The Pacific Road Resources Funds ("PRRF") are
pleased to announce that, further to the press release issued by PRRF on June
15, 2009, PRRF has acquired ownership and control over 7,470,060 units of
Timmins Gold Corp. (the "Company") pursuant to a wider private placement by
the Company initially announced in February 2009. Each unit consists of one
common share and one-half common share purchase warrant, for a purchase price
of $0.40 per unit. Each whole warrant will be exercisable for an additional
common share at an exercise price of $0.60 per share for a period of one year.
Based on the subscriptions for units by other investors, PRRF has not
increased its proportionate share holdings in the Company.
PRRF now holds 11,470,060 common shares and 11,000,000 Convertible
Preference Shares in the Company, representing approximately 19.6% of the
Company's common shares (assuming conversion of PRRF's Convertible Preference
PRRF purchased the securities for investment purposes and may or may not
purchase or sell securities of the Company in the future on the open market or
in private transactions, depending on market conditions and other factors.
About Pacific Road Resources Funds and Pacific Road Capital Management
The Pacific Road Resources Funds are private equity funds investing in
the global mining industry. They provide expansion and buyout capital for
mining projects, mining related infrastructure and mining services businesses
located throughout resource-rich regions of the world. The Pacific Road
Resources Funds are managed and advised by Pacific Road Capital Management Pty
Ltd ("PRCM"). The PRCM team, located in Sydney, Australia, San Francisco and
New York, USA, is comprised of experienced mining investment professionals
that have extensive knowledge and experience in the mining and infrastructure
sectors, including considerable operating, project development, transactional
and investment banking experience.
For further information:
For further information: on the Pacific Road Resources Funds and PRCM,
please go to their website at www.pacroad.com.au