ROAD TOWN, Tortola, Aug. 17, 2016 /PRNewswire/ - Waterton Global Value L.P. ("Waterton") announces today that between July 28, 2016 and August 16, 2016, it disposed of 4,518,000 common shares (the "Common Shares") in the capital of Nicola Mining Inc. ("Nicola") through market transactions (the "Transactions") on the TSX Venture Exchange. The Common Shares were sold at an average price of approximately C$0.19 per Share, for aggregate proceeds of C$858,480.43.
Prior to the completion of the Transactions, Waterton had ownership and control over 16,650,305 Common Shares and 1,900,000 Warrants, representing approximately 13.68% of the issued and outstanding Common Shares on a partially-diluted basis. Waterton now has ownership and control over 12,132,305 Common Shares and 1,900,000 Warrants, representing approximately 10.35% of the issued and outstanding Common Shares on a partially-diluted basis.
The Transactions were made for strategic investment purposes. Waterton may from time to time make additional investments in or dispositions of securities of Nicola, including purchases of Common Shares. No purchases of Common Shares are currently planned.
In connection with this news release, an early warning report will be filed by Waterton in accordance with applicable securities laws. A copy of the early warning report will be available for review on www.sedar.com.
SOURCE Waterton Global Value L.P.