Mr. Ranjan Tandon reports
FUNDS MANAGED BY LIBRA ADVISORS, LLC ACQUIRE SUBSRIPTION RECEIPTS OF REVETT MINERALS INC. FOR INVESTMENT PURPOSES
Libra Fund, LP and Libra Offshore Master Fund, LP have acquired 10,714,268 units of Revett Minerals Inc. at a price of 28 cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share in the capital of Revett at a price of 35 cents for a period of 36 months following the closing date.
As a result of the acquisition, the funds now hold 10,714,268 common shares representing approximately 7.5 per cent of the outstanding common shares of Revett, and 5,357,134 warrants of Revett that, if exercised, would result in the funds holding approximately 10.8 per cent of the outstanding common shares of Revett.
The funds acquired the common shares and warrants for investment purposes and may, from time to time, acquire additional securities of Revett or dispose of such securities as they may deem appropriate.
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