GREENWICH, CT, April 22, 2014 /CNW/ - Wexford Capital LP ("Wexford") announced today that Wexford Spectrum Trading Limited ("WST") and Wexford Catalyst Trading Limited ("WCT", and together with WST, the "Wexford Funds"), two private investment funds managed by Wexford, acquired ownership of an aggregate of 50,000,000 common shares (the "Acquired Shares") of Marlin Gold Mining Ltd. ("Marlin Gold"), representing 7.35% of Marlin Gold's issued and outstanding common shares ("Shares"). The Acquired Shares were acquired at a price of C$0.10 per Acquired Share, for aggregate gross proceeds paid to Marlin Gold of C$5,000,000. The Wexford Funds acquired the Acquired Shares by way of a non-brokered private placement equity financing by Marlin Gold (the "Offering") pursuant to section 3 of BC Instrument 72-503 – Distribution of Securities Outside of British Columbia.
Following the Offering, the Wexford Funds beneficially own, directly or indirectly, 590,036,828 Shares, representing approximately 80.83% of Marlin Gold's issued and outstanding Shares. Immediately prior to the completion of the Offering, the Wexford Funds owned, directly or indirectly, 540,036,828 Shares representing approximately 79.42% of Marlin Gold's issued and outstanding Shares. The Wexford Funds acquired the Acquired Shares for investment purposes. The Wexford Funds 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 Marlin Gold.
In accordance with applicable law, the Acquired Shares will be subject to a four month hold period commencing on the date hereof.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the Offering, please see Marlin Gold's profile on the SEDAR website www.sedar.com.
About Wexford Capital LP
Wexford is an SEC registered investment advisor based in Greenwich, Connecticut with over $4 billion of assets under management. Wexford has particular expertise in the energy/natural resources sector with actively managed investments in coal, oil and gas exploration and production, energy services, mining and related sectors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wexford Capital LP
For further information: Wexford Capital LP, 411 West Putnam Ave., Greenwich, CT 06830, USA, Telephone: (203) 862-7000