DENVER, April 2, 2015 /CNW/ - Resource Capital Fund V L.P. ("RCF V") reports that on March 31, 2015, it acquired 4,619,258 additional common shares ("Common Shares") in the capital of Buffalo Coal Corp. ("Buffalo"), representing approximately 7% of Buffalo's total issued and outstanding share capital.
The Common Shares were acquired pursuant to the previously announced
secured convertible loan facility in the aggregate principal amount of
$25 million (U.S.) (the "Facility") in satisfaction of interest payment obligations under the Facility.
The Common Shares were valued at the 20-day volume-weighted average
trading price of the Common Shares on the Toronto Stock Exchange prior
to the relevant interest payment date, or at a price of $0.0682 per Common Share.
As of the close of business today, RCF V owns in the aggregate, a total
of 45,095,165 common shares of Buffalo, representing approximately 63.3% of Buffalo's total issued and outstanding shares.
RCF V acquired the Common Shares for investment purposes. Depending on
market conditions and other factors, including additional future
conversions of interest payments under the Facility or the exercise of
previously issued convertible securities, RCF V may from time to time
acquire additional securities of Buffalo or dispose of securities of
Buffalo in the open market, by private agreement, or otherwise.
For further information, see RCF V's press release and early warning
reports from closing of the Facility, each dated July 7, 2014.
SOURCE Resource Capital Fund V L.P.
For further information:
Resource Capital Fund V L.P
1400 Sixteenth Street, Suite 200
Denver, CO, 80202
Telephone: (720) 946-1444