MOSCOW, Russia, Sept. 15, 2014 /CNW/ - Maxim Finskiy, 22 Tverskaya, Ulitsa, Moscow 125009, Russia, announced today that as a result of the exercise of a put option described below, a company controlled by him is anticipated to acquire on or about November 17, 2014 an additional 2,500,000 common shares ("Common Shares") of Red Tiger Mining Inc. ("Red Tiger") representing approximately 2.5% of the issued and outstanding Common Shares of Red Tiger. The put option was exercised by the borrower under a loan agreement in repayment of the $500,000 principal amount of the loan plus accrued interest owing under such agreement to a company controlled by Mr. Finskiy. Following completion of the exercise of the put option, Mr. Finskiy will beneficially own and/or exercise control or direction over 44,937,971 Common Shares, warrants entitling him to acquire up to 4,245,681 Common Shares and stock options entitling him to acquire up to 50,000 Common Shares, representing approximately 44.4% of the issued and outstanding Common Shares on an undiluted basis (or 49,233,652 Common Shares or approximately 46.6% on a partially diluted basis).
The Common Shares will be acquired for investment purposes. Mr. Finskiy may, in the future, increase or decrease his ownership of securities of Red Tiger, directly or indirectly, from time to time depending upon the business and prospects of Red Tiger and future market conditions.
SOURCE: Maxim Finskiy
For further information: John Sabine, Phone 416.777.6237