Business
Acquisition of Shares of NewWest Gold Corporation by J. E. Safra
Acquisition of Shares of NewWest Gold Corporation by J. E. Safra.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 7 /CNW/ - Jacob E. Safra (\"Safra\") announced today that,\nthrough an entity indirectly 100% controlled by him, he acquired 150,000\ncommon shares of NewWest Gold Corporation (the \"Corporation\") on December 6,\n2006 and 22,400 common shares of the Corporation on December 7, 2006, which\nacquisitions were made through the Toronto Stock Exchange. Prior to completion\nof an initial public offering of the Corporation on August 29, 2006, NWG\nInvestments Inc. (\"NWG\"), a company wholly owned by Safra, owned 100% of the\n50,000,000 outstanding common shares of the Corporation and immediately\nfollowing completion of the offering (not including the exercise of an\nover-allotment granted to underwriters on the offering), NWG's ownership of\n50,000,000 represented approximately 85% of the total outstanding shares of\nthe Corporation.\n\n\nThe purchase of these additional shares by Safra, together with the\nshares previously held by NWG, provide Safra with beneficial ownership,\ncontrol and direction of a total of 50,172,400 common shares of the\nCorporation, or approximately 86% of the outstanding shares.\n\n\nThe Common Shares were acquired for investment purposes. Safra may from\ntime to time through wholly owned vehicles acquire additional Common Shares,\ndispose of some or all of the Common Shares held by it indirectly through his\nwholly-owned companies, or continue to hold Common Shares in the normal course\nof its investment activities, subject to applicable securities laws and the\ncertain other transfer restrictions.\n\n\n","length":1600,"tagName":"div"}]