SUN VALLEY, IDAHO -- (Marketwired) -- 09/11/14 -- Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over 13,095,000 common shares ("Common Shares") of Belo Sun Mining Corp. ("Belo Sun") on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority. The Common Shares were acquired pursuant to a private placement by Belo Sun of a total of 30,952,381 Common Shares for a subscription price of $0.21 per share.
Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 46,486,232 Common Shares for and on behalf of client accounts, representing approximately 15.65% of the issued and outstanding Common Shares. The Master Fund beneficially owns 30,081,727 Common Shares, representing approximately 10.13% of the issued and outstanding Common Shares.
The securities of Belo Sun were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of Belo Sun depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.
Contacts:
Sun Valley Gold LLC
Linda J. Kish
Chief Legal Officer
(208) 726-2399
(208) 726-0842 (FAX)
