Electrum Strategic Opportunities Fund L.P.

May 02, 2016 16:31 ET

NEW YORK, NEW YORK–(Marketwired – May 2, 2016) – Electrum Strategic Opportunities Fund L.P. (“Electrum“) announces that on April 29, 2016 it exercised warrants (the “Warrants“) to purchase 6,097,561 common shares in the capital of Kaminak Gold Corporation (the “issuer“) for a total exercise price of CDN$6,402,439.05 or CDN$1.05 per Warrant Share. As a result of the acquisition noted above, Electrum holds an aggregate of 20,728,183 common shares in the capital of the issuer (the “Common Shares“), representing approximately 11.19% of the issued and outstanding Common Shares (assuming full exercise of the warrants issued by the issuer in its October 2015 financing).

The shares were acquired for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.

Electrum is an “accredited investor” (as such term is defined in National Instrument 45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators (“NI 45-106“)) because Electrum is a “person” (as such term is defined in NI 45-106) in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are “accredited investors”.

Electrum is located at 700 Madison Avenue, 5th Floor, New York, NY, USA 10065. A copy of the early warning report relating to the Closing can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the issuer at www.sedar.com.