GREY:HRIVF - Post by User
Post by
adrockon Aug 26, 2011 9:39am
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Post# 18981867
There at it again!!
There at it again!!
High River investor OAO Severstal owns 75.06%
2011-08-25 17:17 ET - News Release
Mr. Sergei Loktionov reports
SEVERSTAL INCREASES STAKE IN HIGH RIVER GOLD MINES
Nord Gold N.V., a subsidiary of OAO Severstal, acquired 12,065,300 common shares of High River Gold Mines Ltd. at a price of $1.29 per share on Aug. 25, 2011. The securities acquired pursuant to the transaction represent ownership and control of approximately 1.44 per cent of the issued and outstanding common shares as at the date hereof.
Following the transaction, Severstal will have beneficial ownership and control over 630,627,472 common shares, representing approximately 75.06 per cent of the issued and outstanding common shares as at the date hereof. The additional acquisition of common shares occurred in an over-the-counter transaction outside of Canada from a non-Canadian seller.
The additional acquisition of common shares was effected to increase Severstal's ownership position. Severstal controlled High River prior to the transaction and will continue to control High River. Severstal may in the future increase or decrease its ownership of securities of High River from time to time depending on such factors as the business and prospects of High River and future market conditions.
We seek Safe Harbor.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aHRG-1875277&symbol=HRG®ion=C