TORONTO, ONTARIO -- (Marketwired) -- 02/20/15 -- F&M and JJ Global Resources Fund acquired direct ownership and control of an additional 4,000,000 common shares ("Common Shares") and 4,000,000 common share purchase warrants (the "Warrants") of Kombat Copper Inc. ("Kombat") on February 17, 2015 for an aggregate purchase price of CDN$200,000. This purchase was completed as part of a private placement financing conducted by Kombat. Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until February 17, 2017. Kombat is entitled to accelerate the expiry date of the warrants in certain circumstances if the shares trade at $0.15 or higher (on a volume weighted adjusted basis) for a period of 30 consecutive days. As a result of this transaction, the Fund holds 24,000,000 Kombat common shares and 24,000,000 share purchase warrants. The Fund's shareholding represents approximately 16.9% of the currently outstanding common shares of Kombat. In the event that the Fund exercises every warrant and there remains approximately 142 million Kombat common shares outstanding prior to such exercise, then the Fund would hold approximately 28.9% of the outstanding Kombat common shares.
Kombat Copper Inc. is listed on the TSX Venture Exchange. These private placement purchases were made for investment purposes and the Fund could increase or decrease its investment in Kombat depending on market conditions or any other relevant factor.
Contacts:
Patrick Gleeson
F&M and JJ Global Resources Fund
c/o F&M and JJ Management Corp.
65 Queen Street West, Suite 800, Toronto, Canada M5H 2M5
Tel: +1.416.861.5800
Email: pgleeson@gleesonlegal.com
