NEW YORK, April 27 /CNW/ - Electrum Strategic Holdings LLC ("Electrum")
announced that it has acquired ownership of 8,000,000 common shares of Moto
Goldmines Limited ("Moto") as part of Moto's recently completed prospectus
offering for the aggregate purchase price of $22,400,000, representing a
subscription price of $2.80 per share. After such acquisition, Electrum has
ownership and control of 14,967,300 common shares of Moto, which represent
14.19% of the issued and outstanding common shares of Moto.
The common shares referred to above were acquired from Moto and were
acquired for investment purposes and Electrum and/or one or more of its
affiliates may, depending on market and other conditions, increase or decrease
its beneficial ownership of common shares or other securities of the Moto
whether in the open market, by privately negotiated agreement or otherwise.
For further information:
For further information: Electrum Strategic Holdings LLC is located at
1370 Avenue of the Americas, 19th Floor, New York, New York 10019