Press Release
Press Release
For Immediate Release
ARC Funds increase position in Colossus Minerals Inc.
Toronto, Ontario – April 22, 2013 – Arias Resource Capital Fund II L.P. (“ARCF II”) and
Arias Resource Capital Fund II (Mexico) L.P. (“ARCF Mexico”, together with ARCF II, the
“ARC Funds”) acquired a total of 2,042,200 common shares (“Common Shares”) of
Colossus Minerals Inc. (“Colossus”) today, representing approximately 1.91% of the
presently issued and outstanding Common Shares of Colossus. This acquisition, together
with the ARC Funds’ acquisition on March 15, 2013 of an aggregate of 347,900 Common
Shares, increases the ARC Funds’ position in Common Shares of Colossus to 13,223,900, or
approximately 12.36% of the presently issued and outstanding Common Shares of Colossus.
On March 15, 2013, ARCF II acquired a total of 329,221 Common Shares of Colossus and
ARCF Mexico acquired a total of 18,679 Common Shares of Colossus.
On April 22, 2013, ARCF II acquired a total of 1,932,552 Common Shares of Colossus and
ARCF Mexico acquired a total of 109,648 Common Shares of Colossus.
As a result of these acquisitions, ARCF II owns an aggregate of 12,513,895 Common Shares,
representing approximately 11.70% of the total outstanding Common Shares of Colossus
and ARCF Mexico owns an aggregate of 710,005 Common Shares, representing
approximately 0.66% of the total outstanding Common Shares of Colossus. Together, ARCF
II and ARCF Mexico currently hold 13,223,900 Common Shares representing approximately
12.36% of the total outstanding Common Shares of Colossus.
The Common Shares acquired on March 15, 2013 were acquired through the facilities of the
Toronto Stock Exchange at an average price of C$3.1283 per Common Share for aggregate
consideration of C$1,090,944.82.
The Common Shares acquired on April 22, 2013 were acquired through the facilities of the
Toronto Stock Exchange at a price of C$2.0016 per Common Share for aggregate
consideration of C$4,102,984.02.
The ARC Funds are managed by Arias Resource Capital Management LP (the “Manager”).
The general partner of the ARC Funds retains the power to make investment and voting
decisions in respect of the Colossus securities beneficially owned by the ARC Funds. J.
Alberto Arias is the sole director of the general partner for the ARC Funds and indirectly
controls the Manager. As such, Mr. Arias may be deemed to share voting and dispositive
power with respect to the Colossus securities beneficially owned by the ARC Funds, but he
disclaims any beneficial ownership of any such securities, except to the extent of his
pecuniary interest therein.
The Colossus securities were acquired for investment purposes. The ARC Funds may, from
time to time, acquire additional securities of Colossus and/or dispose of such securities as
they may deem appropriate.