GREY:HRIVF - Post by User
Post by
discernon Aug 16, 2010 4:25pm
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Post# 17354756
Severstal exercised their warrants today
Severstal exercised their warrants today
Severstal Gold N.V. ("Severstal Gold"), a subsidiary of OAO Severestal("Severstal"), has exercised warrants (the "Warrants") held by it and acquired 40,674,540 common shares ("Common Shares") of High River at a price of C
.64 per share. The Warrants were transferred to Severstal Gold in November 2009 from another Severstal subsidiary. High River received cash proceeds of C$26,031,705.60 from the exercise of the Warrants.
Following this transaction, Severstal will have beneficial ownership and control over 591,362,172 Common Shares, representing approximately 70.38 % of the issued and outstanding Common Shares as at the date hereof.
Another $26 million in the coffers. What are we going to do with so much money?