LUXEMBOURG, LUXEMBOURG -- (Marketwired) -- 02/19/16 -- Lorito Holdings S.a.r.l. ("Lorito") and Zebra Holdings and Investments S.a.r.l ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, announced today that they had acquired by way of a private placement directly from NGEx Resources Inc. (TSX: NGQ)(OMX: NGQ) ("NGEx" or the "Company") 2'973'771 and 7'109'562 common shares respectively of NGEx ("Common Shares") for Cdn$0.60 per Common Share, for a total of 10'083'333 Common Shares representing approximately 5.37% of the Company's then issued and outstanding share capital. The Common Shares were acquired in the private placement announced by the Company on January 26, 2016 (the "Private Placement")."
The acquisition of shares by Lorito and Zebra was completed as part of private transactions whereby they disposed of Common Shares from their holdings and then reacquired the corresponding number of Common Shares in the Private Placement. Lorito and Zebra swapped 2'973'771 and 4'526'270 Common Shares respectively in these transactions.
Zebra acquired an additional 2'583'292 Common Shares in the Private Placement. A further 10'000 Common Shares were issued to Zebra at a deemed Cdn$0.60 under the terms of a Debenture Financing. As a result of this acquisition and the issuance, Zebra now holds a total of 21'755'133 Common Shares or approximately 10.82% whereas Lorito's unchanged holdings of 18'000'000 Common Shares represent approximately 8.95 % of the Company's issued and outstanding share capital. Collectively, Lorito and Zebra now hold a total of 39'755'133 Common Shares representing approximately 19.77% of the Company's issued and outstanding share capital.
Lorito and Zebra are joint actors with respect to their holdings in NGEx and have acquired the shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in NGEx depending upon the business and prospects of NGEx and depending upon future market conditions.
Contacts:
Mr. Aksel Azrac
Lorito Holdings Sàrl
Zebra Holdings and Investments Sàrl
+352 26 30 27 70
+352 27 44 93 80 (FAX)
