CAYMAN ISLANDS, June 16 /CNW Telbec/ - Firebird Global Master Fund II,
Ltd. ("FGMF2") announces that on April 15, 2009, it acquired ownership of
7,111,112 common shares of Canada Fluorspar Inc. (TSX-V: CFI) (the "Issuer")
pursuant to the terms of an Amalgamation Agreement dated November 14, 2008, as
amended February 11, 2009 (the "Amalgamation"). On April 15, 2009, Burin
Fluorspar Ltd. ("Burin"), a private company, and Rivera Capital Corp.
("Rivera"), a capital pool company listed on the TSX Venture Exchange
("TSX-V"), amalgamated to form the Issuer. The Amalgamation constituted
Rivera's qualifying transaction under Policy 2.4 of the TSX-V. Pursuant to the
terms of the Amalgamation, each 1.8 common shares of Burin were exchanged for
one common share of the Issuer and no cash consideration was offered. Upon
completion of the Amalgamation, FGMF2 owned 7,111,112 common shares of the
Issuer. FGMF2's joint actor, Firebird Global Master Fund, Ltd. ("FGMF"),
subsequently acquired 800,000 common shares of the Issuer (the "Subsequent
Purchases") through the TSX-V. FGMF paid (i) CDN$0.3495 per share to acquire a
first tranche of 400,000 common shares of the Issuer and (ii) CDN$0.35 per
share to acquire a second tranche of 400,000 common shares of the Issuer.
FGMF2's and its joint actor's aggregate security holding in the Issuer is
7,911,112 common shares, representing approximately 12.88% of the issued and
outstanding common shares of the Issuer.
The common shares of the Issuer acquired through the Subsequent Purchases
were acquired for passive investment purposes. FGMF2 may, from time to time,
acquire additional securities of the Issuer, may continue to hold its present
position or may dispose of its securities. FGMF and certain joint actors are
currently considering participating in a next financing round of the Issuer.
FGMF2 is a contrarian portfolio equity fund that invests in markets
throughout the world.
This press release is being issued in order to comply with the disclosure
requirements under applicable securities legislation. This press release is
not an admission that FGMF2 owns or controls any described securities or is a
joint actor with anyone else.
For further information:
For further information: Mr. James Passin, Director, Firebird Global
Master Fund II, Ltd., (212) 698-9260, email@example.com