SUN VALLEY, IDAHO -- (Marketwired) -- 02/24/15 -- Sun Valley Gold LLC ("Sun Valley") announced today that it disposed of an aggregate of 9,000,000 common share purchase warrants of West Kirkland Mining Inc. ("West Kirkland") between February 20 and 23, 2015 on behalf of the Sun Valley Gold Master Fund Ltd. (the "Master Fund"), a client account over which Sun Valley has discretionary trading authority. During the same period, Sun Valley acquired control and direction over 7,125,000 common shares of West Kirkland on behalf of the Master Fund. The 9,000,000 warrants were sold at a price of US$0.004 per warrant. The 7,125,000 common shares were purchased at a price of US$0.0399 per share (as to 7,000,000 common shares acquired on February 20, 2015) and US$0.0398 per share (as to 125,000 common shares acquired on February 23, 2015).
Following completion of such transactions, Sun Valley exercises control and direction over 49,742,300 common shares and 8,014,000 warrants for and on behalf of the Master Fund. The 49,617,300 common shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund represent approximately 16.91% of the issued and outstanding common shares of West Kirkland. If exercised, the 8,014,000 warrants over which Sun Valley exercises control and direction for and on behalf of the Master Fund would, together with such shares, represent approximately 19.12% of the issued and outstanding common shares of West Kirkland (after giving effect to the exercise of such warrants, but not the exercise of any other share purchase warrants issued by West Kirkland).
The securities of West Kirkland were acquired for investment purposes. Sun Valley may increase or decrease its ownership of securities of West Kirkland 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