Praetorian Resources Announces an Over 10% Holding in Polar Star Mining Corporation
(firmenpresse) - ST. PETER PORT, GUERNSEY -- (Marketwire) -- 11/06/12 -- Praetorian Resources Limited ("Praetorian" or the "Offeror")(LSE: PRAE), of 11 New Street, St. Peter Port, Guernsey, GY1 2PF, announces, pursuant to National Instrument 62-103 - "The Early Warning System and Related Take-Over Bid and Insider Reporting Issues" ("NI 62-103") that it acquired ownership of 3,380,526 common shares (the "Common Shares") of Polar Star Mining Corporation ("Polar Star") at a price of $0.10 per share pursuant to a private placement.
Pursuant to the private placement, Praetorian directly and indirectly owns 19,300,000 Common Shares (representing 11.63% of the issued and outstanding Common Shares).
The acquisition of 3,380,526 Common Shares was carried out by way of private placement.
The securities of Polar Star are held by Praetorian for investment purposes. Praetorian expects to review from time to time this investment in Polar Star and may, depending on the market and other conditions: (i) acquire securities or related financial instruments of Polar Star in the open market, in privately negotiated transactions or otherwise, and/or (ii) dispose of all or a portion of the securities or related financial instruments of Polar Star over which it now or hereafter exercises, or may be deemed to exercise, control or direction, or owns.
Additional information is provided in the early warning report filed on by Praetorian pursuant to NI 62-103.
Contacts:
For information or a copy of the early warning report:
Charles Cannon-Brookes
+44 20 7389 5010
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Datum: 06.11.2012 - 15:06 Uhr
Sprache: Deutsch
News-ID 200069
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ST. PETER PORT, GUERNSEY
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