/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
MINNEAPOLIS, July 13, 2018 /CNW/ - Global private investment
firm Castlelake, L.P. ("Castlelake"), today announced that on
July 9, 2018 it acquired 30,500,000
common shares (the "Shares") of Nevada Copper Corp. ("Nevada
Copper") on behalf of its investment funds. The Shares were
acquired at a price of CDN$0.60 per
Share with the aggregate subscription price of CDN$18.3 million pursuant to a prospectus
offering by Nevada Copper (the
"Offering") in connection with which Nevada
Copper issued an aggregate amount of 160,000,000 shares for
aggregate gross proceeds of CDN$96
million. Following the closing of the Offering, Castlelake
holds an aggregate of 118,700,000 common shares of Nevada Copper representing approximately 18.6%
of the then outstanding common shares of Nevada Copper. Immediately prior to the
Offering, Castlelake owned 88,200,000 common shares of Nevada Copper.
Nevada Copper owns 100% of the
Pumpkin Hollow Copper Development Property located in Nevada, United
States, a large advanced stage development copper property
with substantial reserves and resources including copper, gold,
silver, as well as a large iron resource.
Castlelake has acquired the Shares for investment purposes, and
may acquire further Shares, or dispose of its holdings of Shares,
both as investment conditions warrant. Nevada Copper is listed on the Toronto Stock
Exchange under the symbol "NCU".
For further information please contact Molly Schlax at (+1 612 851 3083). Nevada Copper is a corporation organized under
the laws of British Columbia with
its head office at Suite 1238, 200 Granville Street, Vancouver, British Columbia V6C 1S4.
About Castlelake
Castlelake, L.P. is a global private investment firm focused on
investments in alternative assets, sub-performing loans, dislocated
industries and corporate special situations, and is an experienced
leader in aircraft ownership and servicing. With primary offices in
Minneapolis and London, the Castlelake team comprises more
than 130 professionals. As of March 31,
2018, Castlelake manages private funds and debt vehicles
with approximately $13.0 billion in
assets, on behalf of its investors, including endowments,
foundations, public and private pension plans, private funds,
family offices, insurance companies and sovereign wealth funds. For
more information, visit www.castlelake.com.
SOURCE Castlelake, L.P.