WASHINGTON, D.C., July 12, 2016 /CNW/ - IFC, a member of the World Bank Group, announces that it has sold certain of its common shares of Roxgold Inc. (Roxgold).
On July 11, 2016 IFC sold, and disposed of ownership and control over, a total of 15,461,676 common shares of Roxgold at a price of CDN$1.55 through the facilities of the Toronto Stock Exchange for total gross proceeds of CDN$23,981,059.48. The common shares sold represent approximately 4.4% of the total issued and outstanding common shares of Roxgold assuming 353,782,384 common shares of Roxgold are outstanding. IFC previously held 25,783,352 common shares representing approximately 7.3% of the total issued and outstanding common shares of Roxgold. On July 12, 2016, IFC initiated the exercise of 12,891,676 warrants to acquire 12,891,676 common shares of Roxgold. As result of these transactions, IFC holds 23,213,352 common shares of Roxgold representing approximately 6.3% of the total issued and outstanding common shares of Roxgold.
IFC executed these transactions as part of its regular portfolio management. It will maintain its remaining holdings in Roxgold for investment purposes and may, in the future, take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing.
Roxgold's head office is located at: 500-360 Bay Street, Toronto, Ontario, M5H2V6.
IFC, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it's needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
SOURCE International Finance Corporation
For further information: A copy of IFC's early warning report required to be filed in connection with the sale of common shares of Roxgold will appear on Roxgold's profile on SEDAR at www.sedar.com and may also be obtained by calling Carla Monteiro at +1 416.216.4040.