Business
Resource Capital Fund IV L.P. Acquires Shares of Selwyn Resources Ltd.
Resource Capital Fund IV L.P. Acquires Shares of Selwyn Resources Ltd.
About this update from Edm Resources Inc
[{"type":"text","content":"\n\n\n\nSep. 30, 2009 (Canada NewsWire Group) -- DENVER, Sept. 30 /CNW/ -- Resource Capital Fund IV L.P. (\"RCF IV\") announces that it has acquired 20,700,000 shares of Selwyn Resources Ltd. (\"Selwyn\") pursuant to a private placement (the \"Private Placement\"). The shares were acquired at a purchase price of CDN$0.12 per share representing an aggregate purchase price of CDN$2,484,000. Prior to the Private Placement RCF IV held 38,723,810 or 16.04% of the issued and outstanding common shares of Selwyn.Following the Private Placement, the common shares owned by RCF IV represent 20.31% of the issued and outstanding common shares of Selwyn. Assuming the exercise of previously held warrants, RCF IV would own 78,785,715 common shares, or 25.26% of the issued and outstanding common shares of Selwyn.The shares of Selwyn were acquired by RCF IV for investment purposes. Depending upon market conditions and other factors that RCF IV may deem material to its investment decisions, additional shares may be purchased in the open market or in private transactions subject to the terms of the shareholder agreement dated effective August 20, 2008 between Selwyn and RCF IV. Depending on these same factors, and subject to the terms of the shareholder agreement dated effective August 20, 2008 between Selwyn and RCF IV, shares currently owned (or hereafter acquired) by RCF IV may be sold in the open market or in private transactions.\n\n\n\n","length":1569,"tagName":"div"}]