Toronto, Ontario--(Newsfile Corp. - August 14, 2018) - This release is being issued by Resource Capital Investment Corp. and its affiliated companies, Sprott Global Resource Investments Ltd. and Sprott Asset Management USA, Inc. (the "Investors") along with certain joint actors to report historical information concerning holdings in Aethon Minerals Corporation (the "Issuer") and to correct information provided in the alternative monthly report dated June 8, 2018 filed on behalf of the Investors.
On April 26, 2018, the Investors and certain deemed joint actors, acquired beneficial ownership or control or direction, on behalf of managed accounts, over 2,765,343 common shares ("Shares") and 3,631,403 Share purchase warrants ("Warrants") (representing 20.46% of the outstanding Shares assuming exercise of such Warrants) (the "Acquisition"). Of these securities, 2,765,343 Shares and 2,765,343 Warrants were issued, immediately prior to the qualifying transaction of the Issuer (the "Qualifying Transaction"), without payment of any additional consideration or further action by the Investors, through the conversion of 2,765,343 subscription receipts which had been acquired on February 27, 2018 through a private placement of the Issuer. Each such Warrant is exercisable to purchase one Share at a price of $1.02 before April 26, 2023 (subject to acceleration of the expiry date upon certain events). Also, 833,060 Warrants were acquired as finders fees in connection with the Qualifying Transaction. Each such Warrant is exercisable to purchase one Share at a price of $0.51 before April 26, 2023.
Prior to the Acquisition, the Investors held or had control or direction over 666,667 common shares of Watusi Capital Corp. (being the former name of the Issuer), representing 50% of the then outstanding shares. (These shares had been consolidated on a 3 for 1 basis prior to the Qualifying Transaction.) As previously disclosed in the Early Warning Report filed by Exploration Capital Partners 2000 Limited Partnership ("ECP") on March 2, 2012, it acquired 4,000,000 pre-consolidation Shares in 2011 (representing 80% of the outstanding pre-consolidation Shares) which were required to be reported by ECP following the filing of the Issuer's final prospectus on February 28, 2012 in connection with its initial public offering. On April 28, 2014, the Issuer cancelled 2,000,000 of ECP's pre-consolidation Shares (such shares being Seed Shares as defined by the TSX Venture Exchange (the "Exchange") resulting in a decrease in ECP's holdings to 2,000,000 pre-consolidation Shares (representing 50% of the outstanding pre-consolidation Shares).