UPDATE....increased % in TMM...NEWS RELEASEtotally agree with previous post, bringing down sp as large block at $1.20 waiting to buy cheap shares. WAY UNDERVALUED. Mexico exploration heating up.... GLTA!
Timmins shareholder Pacific Road exercises warrants
2010-05-10 17:15 ET - News Release
Mr. Greg Dick of the Pacific Road Resources Funds reports
PACIFIC ROAD RESOURCES FUNDS ANNOUNCE INCREASED INVESTMENT IN TIMMINS GOLD CORP.
The Pacific Road Resources Funds (PRRF) have exercised the common share purchase warrants issued by Timmins Gold Corp. in connection with the company's June, 2009, private placement, as described in Stockwatch on June 25, 2009. Pursuant to the exercise, PRRF has acquired ownership and control over 3,735,030 additional common shares at a price of 60 cents per share representing approximately 3.2 per cent of the issued and outstanding common shares of the company.
PRRF now holds 15,205,090 common shares and 11 million convertible preference shares in the company, representing approximately 22.3 per cent of the company's common shares (assuming conversion of PRRF's convertible preference shares).
PRRF purchased the securities for investment purposes and may or may not purchase or sell securities of the company in the future on the open market or in private transactions, depending on market conditions and other factors.