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Orion Mine Finance Completes Disposition of Shares of Stornoway Diamond Corporation TORONTO, Jan.
24, 2017 /CNW/ Orion Mine Finance announced today that Orion Co Investments I LLC ("Orion Equity Co Invest"), a company managed by Orion Mine Finance Management I Limited ("Orion"), completed louis vuitton bags monogram an in louis vuitton keep it twice bracelet kind distribution of 13,008,359 common shares of Stornoway Diamond Corporation ("Stornoway") to a member thereof in accordance with the terms of its limited liability company agreement. After the distribution, Orion, through Orion Equity Co Invest, owns 130,083,596 common shares. In addition, Orion, through Orion Co Investments I (Convert) LLC, another entity managed by Orion, holds US$20,500,000 aggregate principal amount of convertible debentures of Stornoway, which are convertible into common louis vuitton authentication item shares at any time prior to maturity on July 8, 2021 at a conversion rate of US$0.8863. Assuming conversion of the convertible debentures, Orion's securityholding percentage in the common shares is 18.0%. This represents a decrease of 1.5% from Orion's securityholding percentage immediately prior to the distribution and a decrease of 4.0% since the last early warning report filed by Orion on April 30, 2015. Orion holds common shares and convertible debentures of Stornoway for investment purposes. Orion has no current plan or future intentions which relate to, or would result in, acquiring additional securities of Stornoway, disposing of securities of Stornoway, or any of the other actions enumerated in Item 5 of Form 62 103F1 published by the Canadian Securities Administrators. Depending on market conditions, Orion's view of Stornoway's prospects and other factors considered relevant by Orion, Orion may acquire additional securities of Stornoway from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Stornoway. Orion's address is Cannon's Court, 22 Victoria Street, Hamilton, Bermuda HM12. Orion is an exempted company incorporated under the laws of louis vuitton purses and prices Bermuda. Orion's principal business is investing in mining companies. Certain statements in the press release are forward looking statements and are prospective in nature, including statements with respect to Orion's future intentions regarding the securities of Stornoway.
Forward looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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