LUXEMBOURG, July 22, 2019 /CNW/ - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. "Zebra") 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, two companies controlled by a trust settled by the late Adolf H. Lundin, announced today that as a result of the spin-out by NGEx Resources Inc. ("NGEx" or the "Company") (TSX:NGQ) (NASDAQ OMX:NGQ) of its wholly owned Los Helados Property and certain other exploration properties under a Plan of Arrangement they will be receiving common shares of NGEx Minerals Inc. ("NGEX MINERALS"), a wholly owned subsidiary of NGEx. In addition, as part of the Arrangement, NGEx will change its name to Josemaria Resources Inc. ("JOSE") (TSX:JOSE) (NASDAQ Stockholm Exchange ("OMX"):JOSE.
Upon completion of the arrangement announced by NGEx and NGEX MINERLAS in a joint press release on July 17th, 2019, Lorito and Zebra will, based on their holdings of NGEx on record as of July 24th, 2019, be receiving a distribution of one common share of NGEX MINERALS for Can$nil consideration for every two common shares of NGEx held. Lorito will be receiving and holding 12,250,000 common shares or approximately 9.82% and Zebra will be receiving and holding 32,300,967 common shares or approximately 25.88% respectively of the issued capital of NGEX MINERALS. Collectively, the joint-actors will be holding a total of 44,550,967 common shares or approximately 35.70% of the issued capital of NGEX MINERALS. The Company has applied for a listing of the shares of NGEX MINERALS on the TSX Venture Exchange ("TSXV") under the trading symbol "NGEX" and has announced that these shares will not be listed in Sweden.
On record date July 24th, 2019, Lorito will be holding 24,500,000 common shares or approximately 9.72% and Zebra will be holding 64,601,933 common shares or 25.88% respectively of the issued capital of NGEx for a total of 89,101,933 common shares or approximately 35.70% of the issued capital of NGEx eligible for distribution of the NGEX MINERALS common shares.
Lorito and Zebra are joint actors with respect to their holdings in JOSE and NGEX MINERALS and have acquired the common shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in JOSE and / or NGEX MINERALS depending upon the business and prospects of these companies and depending upon future market conditions.
A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574.
SOURCE Lorito Holdings S.à.r.l.
For further information: Mr. Aksel Azrac, Lorito Holdings S.à.r.l. / Zebra Holdings and Investments S.à.r.l., 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, Telephone: + 41 22 595 18 75, Fax: + 41 22 595 18 75