TORONTO, Nov. 30 /CNW/ - PASSPORT MANAGEMENT, LLC ("(Offeror)") is
pleased to announce that it has acquired from treasury 3,043,478 Common Shares
and 3,043,478 Common Share Purchase Warrants (each common share purchase
warrant entitles the holder to exercise for one Common Share) of MBMI
Resources Inc ("(Reporting Issuer)"), a Vancouver, BC based company which is a
Canadian based mining exploration company focused on the exploration, and
development of mineral properties in the Philippines and Canada.
Passport Management, LLC has acquired control of 3,043,478 Common Shares
and 3,043,478 Common Share Purchase Warrants representing approximately 8.3%
of the presently issued and outstanding of the Common Shares.
Following completion of this acquisition, Passport Management, LLC
controls 12,229,907 Common Shares and 7,579,191 Common Share Purchase
Warrants, or approximately 24.5% of the presently issued and outstanding
Common Shares of MBMI Resources Inc. Passport Management, LLC serves as
Investment Manager to Passport Global Master Fund SPC Ltd, Passport Materials
Master Fund LP, and Partners Group Alternative Strategies PCC Ltd - Gold Iota
Cell (collectively "The Funds"). Passport Capital LLC is the sole Managing
Member of Passport Management, LLC. John H. Burbank III is the sole Managing
Member of Passport Capital, LLC. As a result, each of John Burbank III,
Passport Capital, LLC, and The Funds may be considered to be joint actors with
Passport Management, LLC in connection with the disclosure required herein.
The securities were acquired in a single trade through a private
placement from the treasury of the Reporting Issuer. Passport Management, LLC
has acquired the Common Shares for investment purposes and not with a view to
influence management or direction of the company, and may acquire further
Common Shares, or dispose of its holdings of Common Shares, both as investment
conditions warrant. MBMI Resources Inc. is listed on the TSX Venture Exchange
under the symbol "MBR".
Passport Management, LLC is located at 30 Hotaling Place, Ste. 300,
San Francisco, CA 94111.
For further information:
For further information: Michele Clifford, (415) 321-4610 or