ROAD TOWN, Tortola, July 12, 2016 /CNW/ - Waterton Global Value L.P. ("Waterton") announces today that between June 10, 2016 and July 7, 2016, it disposed of 5,188,500 common shares (the "Shares") in the capital of Nicola Mining Inc. ("Nicola") through market transactions on the TSX Venture Exchange. The Shares were sold at an average price of C$0.1633 per Share, for aggregate proceeds of C$847,282. Additionally, Waterton announces that 650,000 Share purchase warrants (the "Warrants") held by Waterton expired on June 16, 2016 (the foregoing, collectively, the "Transactions").
Prior to the completion of the Transactions, Waterton had ownership and control over 21,838,805 Shares and 2,550,000 Warrants, representing approximately 19.37% of the issued and outstanding Shares on a partially-diluted basis. Waterton now has ownership and control over 16,650,305 Shares and 1,900,000 Warrants, representing approximately 14.81% of the issued and outstanding Shares on a partially-diluted basis.
The Transactions were made for strategic investment purposes. Waterton may from time to time make additional investments in or dispositions of securities of Nicola, including additional purchases of Shares. No additional purchases of Shares are currently planned.
In connection with this news release, an early warning report will be filed by Waterton in accordance with applicable securities laws. A copy of the early warning report will be available for review on www.sedar.com.
SOURCE Waterton Precious Metals Fund II Cayman, LP
For further information: Bayfield Strategy, Inc., Riyaz Lalani, (416) 907-9365 or [email protected]