https://www.miningweekly.com

Orion Mine Finance sells portion of Stornoway shares

26th April 2019

By: Creamer Media Reporter

     

Font size: - +

Private equity firm Orion Mine Finance has entered into an agreement to sell 90-million of the shares of Canadian miner Stornoway Diamond Corp that it held for investment purposes.

Orion will sell the shares at C$0.04 a share, netting C$3.6-million.

After the transaction, Orion, through entities managed by the firm, will own 22 083 596 of Stornoway shares and $20.5-million of convertible debentures, which are convertible to shares before July 8, 2021, at a rate of $0.8863.

Assuming the conversion, Orion’s security holding percentage in the common shares will be 4.45% - a decrease from the 13.32% immediately prior to the transaction.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 1.072s - 128pq - 2rq
Subscribe Now