Nevada Copper Corp T.NCU

Castlelake sold 3,700,000 NCU Shares

[JimToronto]

MINNEAPOLIS, Oct. 1, 2021 /CNW/ - Global alternative investment firm Castlelake, L.P. ("Castlelake"), today announced that it has filed an updated Early Warning Report in respect of Nevada Copper Corp. ("NCU"). Following a series of sales by Castlelake of an aggregate of 3,700,000 NCU Shares (Transactions), Castlelake funds' holdings of NCU Shares decreased by 2.0% on a non-diluted basis and 1.9% on a partially diluted basis.

 

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Upon completion of the Transactions, Castlelake funds hold (a) 14,806,355 NCU Shares (representing approximately 8.0% of the current issued and outstanding NCU Shares on a non-diluted basis).

[westcoast1000]

Castlelake selling has been the source of much of the downward pressurs on the share price. Why they are selling we do not know. They still hold 8 percent of the shares. I would guess they need liquidity for their other businesses. No other big holder has been selling to our knowledge. Pala keeps loaning more capital, which will convert to shares at a price agreed to with the board.