01:27:38 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Nevada Copper Corp
Symbol NCU
Shares Issued 761,935,897
Close 2019-12-17 C$ 0.295
Market Cap C$ 224,771,090
Recent Sedar Documents

Nevada Copper shareholder Pala hikes holdings to 35.88%

2019-12-17 17:38 ET - News Release

Mr. John Nagulendran of Pala Investments reports

PALA INCREASES INVESTMENT IN NEVADA COPPER

Pala Investments Ltd. has acquired an additional 300,000 common shares of Nevada Copper Corp. through the facilities of the Toronto Stock Exchange. The shares were acquired at an average price of 29 cents per share for total consideration of $87,000.

Immediately prior to the acquisition, Pala held a total of 273,049,447 shares and 2.5 million warrants exercisable for a total of 2.5 million shares, representing approximately 35.84 per cent of the issued and outstanding shares on a non-diluted basis (or approximately 36.05 per cent of the issued and outstanding shares on a partially diluted basis, after giving effect to the exercise of all existing warrants). Immediately following the acquisition, Pala holds a total of 273,349,447 shares and the existing warrants, representing approximately 35.88 per cent of the issued and outstanding shares on a non-diluted basis (or approximately 36.09 per cent of the issued and outstanding shares on a partially diluted basis, after giving effect to the exercise of all existing warrants).

The shares were acquired in reliance on the normal course purchase exemption from the formal takeover bid requirements in Section 4.1 of National Instrument 62-104 (Takeover Bids and Issuer Bids). The shares acquired, together with all of the other shares acquired by Pala during the 12-month period preceding the transaction, did not exceed 5 per cent of the number of shares outstanding at the beginning of such 12-month period, and the consideration paid by Pala for any of the shares did not exceed the market price at the date of the acquisition as determined in accordance with NI 62-104.

Pala has acquired the shares for investment purposes and may increase or decrease the investment in the securities of Nevada Copper depending on its evaluation of the business, prospects and financial condition of Nevada Copper, the market for Nevada Copper's securities, general economic and tax conditions, and other factors.

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