TORONTO, June 7, 2013 /CNW/ - Mandalay Resources Corporation
("Mandalay") (TSX: MND) announced today that Plinian Capital Ltd.
("Plinian") has sold 2,000,000 common shares of Mandalay, representing
approximately 0.6% of the 325,145,053 outstanding common shares of
After giving effect to the transaction, as of June 6, 2013, Plinian owns
25,354,627 common shares of Mandalay, representing approximately 7.8%
of the total outstanding common shares of Mandalay.
The principal shareholders of Plinian are Brad Mills, Mark Sander and
Sanjay Swarup (collectively, "Senior Management"), each of whom is a
senior officer of Mandalay. Mr. Mills and Mr. Swarup are also directors
of Mandalay. After giving effect to the transaction, and including the
shares held by Plinian, Senior Management collectively owns or controls
35,442,778 common shares of Mandalay, representing approximately 10.9%
of the total outstanding common shares of Mandalay, as well as options
to acquire an additional 6,575,000 common shares of Mandalay.
Plinian has advised Mandalay that it disposed of the common shares of
Mandalay to repay indebtedness that Plinian incurred to finance its
acquisition of Mandalay common shares from Western Coal Corp. in
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with
producing assets in Australia and producing and exploration projects in
Chile. The Company is focused on executing a roll-up strategy, creating
critical mass by aggregating advanced or in-production gold, copper,
silver and antimony projects in Australia and the Americas to generate
near-term cash flow and shareholder value.
SOURCE: Mandalay Resources Corporation
For further information:
Chief Executive Officer