DENVER, CO, June 4, 2015 /CNW/ - Resource Capital Fund V L.P. ("RCF") reports that on June 3, 2015, in connection with a previously announced secured convertible loan facility in the aggregate principal amount of US$25 million (the "Facility"), and in satisfaction of interest payment obligations under the Facility, RCF acquired ownership of 6,202,191 additional common shares ("Facility Interest Shares") in the capital of Buffalo Coal Corp. ("Buffalo").
The Facility Interest Shares collectively represent 8.0% of the issued and outstanding common shares in the capital of Buffalo. The Facility Interest Shares were valued at the 20-day volume-weighted average trading price of the common shares on the Toronto Stock Exchange prior to the relevant interest payment date, or at a price of CDN$0.0502 per common share.
As of the close of business today, RCF owns in the aggregate, a total of 56,223,585 common shares of Buffalo, representing approximately 72.6% of the issued and outstanding common shares in the capital of Buffalo.
RCF acquired the Facility Interest Shares for investment purposes. Depending on market conditions and other factors, including additional future conversions of interest payments under the Facility or the exercise of previously issued convertible securities, RCF may from time to time acquire additional securities of Buffalo or dispose of securities of Buffalo in the open market, by private agreement, or otherwise.
SOURCE Resource Capital Fund V L.P.
Renseignements: Resource Capital Fund V L.P, 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444