Key points
- Mawarid purchased an additional 18,433,811 Nautilus shares at 90 cents per share on Sept. 11, 2012.
- The purchase completed the second and final tranche under a subscription agreement dated July 31, 2012.
- MB Holding Company and its affiliates now beneficially own or control 39,636,897 Nautilus shares, about 16.9 per cent of the 234,097,865 shares outstanding.
- The shares were acquired for investment purposes only, and MB and its affiliates may acquire additional Nautilus securities depending on market conditions.
Mawarid Offshore Mining Ltd., a wholly owned subsidiary of MB Holding Company LLC, has completed the second and
final tranche of its subscription for common shares of Nautilus Minerals Inc. pursuant to the subscription agreement entered into between Mawarid
and Nautilus on July 31, 2012. Pursuant to the subscription agreement,
on Sept. 11, 2012, Mawarid purchased an additional 18,433,811
Nautilus shares at 90 cents per share, resulting in MB and its
affiliates beneficially owning or controlling 39,636,897 shares
representing approximately 16.9 per cent of the outstanding Nautilus shares (based on 234,097,865 outstanding Nautilus shares as at the date hereof, as advised by
Nautilus).
The additional Nautilus shares were acquired for investment purposes
only. Depending upon the market and other conditions, MB and its
affiliates may acquire additional securities of Nautilus.
