Home / Mining Company News Releases (Unreviewed) / Outrider Master Fund, LP Announces Reduction in Ownership of Jaguar Mining Inc.

Outrider Master Fund, LP Announces Reduction in Ownership of Jaguar Mining Inc.

TORONTO, ONTARIO–(Marketwired – March 31, 2016) – On March 31, 2016, Outrider Master Fund, LP (“Outrider”) sold 18,500,000 common shares (“Common Shares”) of Jaguar Mining Inc. (“Jaguar”) through the facilities of the TSX Venture Exchange, representing approximately 16.6% of the total number of Common Shares outstanding.

Following the sale, Outrider owns an aggregate of 17,545,291 Common Shares, which constitutes approximately 15.8% of the total number of Common Shares outstanding.

Outrider also owns US$5,350,000 principal amount of convertible senior secured debentures of Jaguar (“Debentures”), which are convertible into Common Shares at C$0.15 per Common Share.

In the event that all Debentures owned by Outrider were converted (and assuming an exchange rate of C$1 – US$0.769), Outrider would have ownership and control of an additional 46,380,581 Common Shares, representing approximately 29.4% of the outstanding Common Shares post-exercise, and ownership and control over a total of 63,925,872 Common Shares, representing approximately 40.6% of the outstanding Common Shares post-exercise on a partially-diluted basis.

The Common Shares and Debentures owned by Outrider are held for investment purposes. Outrider may, subject to market conditions and in compliance with applicable securities laws, make additional investments in, or dispositions of, securities of Jaguar, including additional purchases or dispositions of Common Shares and Debentures.

A copy of the early warning report required to be filed by Outrider with applicable securities commissions in connection with this sale will be filed under Jaguar’s profile on SEDAR at www.sedar.com and a copy of the early warning report may also be obtained by contacting Julia Ruthven, the Chief Financial Officer of Outrider, at 1001 Bayhill Drive, Suite 125, San Bruno, CA, 94066, telephone: (650) 238-5850.

Outrider Master Fund, LP
Julia Ruthven
Chief Financial Officer
(650) 238-5850

 

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