DENVER, CO, Jan. 30, 2018 /CNW/ - Resource Capital Fund VI L.P. ("RCF VI") reports that on January 29, 2018, it sold over the TSX Venture Exchange, 17,229,566 common shares ("Common Shares") of Salazar Resources Ltd. (the "Company"), representing all of the Common Shares currently held by RCF VI. RCF VI sold the Common Shares at a price of $0.1115 per Common Share for gross proceeds of $1,921,096.61.
Prior to the sale of the Common Shares, RCF VI owned a total of (i) 17,229,566 Common Shares representing 15.09% of the issued and outstanding Common Shares and (ii) 8,614,783 Common Share purchase warrants (the "Warrants") exercisable for 8,614,783 Common Shares. Immediately prior to the sale of the Common Shares, assuming exercise of all of the Warrants held by RCF VI, RCF VI would have owned an aggregate of 25,844,349 Common Shares, representing approximately 21.09% of the Company's issued and outstanding Common Shares.
Immediately following the sale of the Common Shares, RCF VI owned 8,614,783 Warrants and no Common Shares. Assuming exercise of all of the Warrants held by RCF VI, an aggregate of 8,614,783 Common Shares would be owned by RCF VI, representing approximately 7.02% of the Company's issued and outstanding Common Shares. As a result, RCF VI's beneficial ownership has fallen below 10% in respect of the class of securities of the Company that was the subject of the most recent report that RCF VI was required to file in respect of the Company under National Instruments 62-104 – Take-Over Bids and Issuer Bids and National Instrument 61-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Accordingly, RCF VI will no longer file early warning or insider reports in respect of its ownership of the Company's securities except as required by applicable law.
RCF VI sold the Common Shares for investment purposes. RCF VI may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.
The Company's head office is located at Suite 1305 - 1090 West Georgia Street, Vancouver, British Columbia, V6E 3V7.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see the Company's profile on the SEDAR website www.sedar.com.
Resource Capital Fund VI L.P.
RCF VI is a private investment fund existing under the laws of the Cayman Islands.
SOURCE Resource Capital Fund VI L.P.
For further information: and to obtain a copy of the early warning report, please contact: Resource Capital Fund VI L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444, Attn: Molly Campbell