TORONTO, Jan. 19 /CNW/ - Pala Investments Holdings Limited ("PIHL")
announced today that between September 28, 2010 and January 17, 2011,
it sold a total of 1,975,200 common shares of Strathmore Minerals Corp.
("Strathmore") representing approximately 2.22% of the issued and
outstanding shares of Strathmore, as known by PIHL. The common shares
were sold through the facilities of the Toronto Stock Exchange.
After giving effect to the dispositions referred to above, PIHL owns and
controls, directly or indirectly, a total of 5,297,527 common shares
and 3,636,364 warrants to purchase common shares of Strathmore,
representing 9.65% of the common shares of Strathmore on a
The transactions referred to above took place through the facilities of
the Toronto Stock Exchange. The average consideration for the
disposition of the common shares referred to above was CDN$0.86 per
PIHL has purchased these securities for investment purposes and may
increase or decrease the investment in these securities depending upon
future market conditions.
PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For
further information please refer to the Early Warning Report posted on
SEDAR or contact Colin Murray at 011 41 41 560 9070.
Pala Investments Holdings Limited is a US$1.0 billion multi-strategy
investment company focused on mining and natural resource companies in
both developed and emerging markets. Pala Investments' exclusive
investment advisor, Pala Investments AG, has extensive experience
within the mining and natural resource sectors. Pala Investments seeks
to assist companies in which it has long-term shareholdings by
providing strategic advice and innovative financing solutions. For more
information, visit www.pala.com.
Certain statements in the press release are forward-looking statements
and are prospective in nature, including statements with respect to
Pala's future intentions regarding the securities of Strathmore that it
owns. Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events, and
are therefore subject to risks and uncertainties which could cause
actual results to differ materially from the future results expressed
or implied by the forward-looking statements. These statements
generally can be identified by the use of forward-looking words such as
"may", "should", "will", "could", "intend", "estimate", "plan",
"anticipate", "expect", "believe" or "continue", or the negative
thereof or similar variations. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations. Such forward-looking statements should therefore be
construed in light of such factors, and Pala is not under any
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE Pala Investments Holdings Limited
For further information:
please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070