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DOUGLAS, Isle of Man, June 25, 2018 (GLOBE NEWSWIRE) -- Origo Partners Plc (“Origo”) announces that on June 22, 2018, it disposed of 15,540,888 common shares (the “Shares”) of Kincora Copper Limited (“Kincora”), pursuant to a share purchase agreement with LIM Asia Special Situations Master Fund Limited at a price of CAD $0.13 per Share for an aggregate purchase price of CAD $2,020,315.44 (the “Agreement”).
The Shares disposed of by Origo represent approximately 22.0% of the Shares outstanding immediately prior to the purchase. After giving effect to the sale of the Shares under the Agreement, Origo no longer has beneficial ownership, control or direction over any Shares or other securities of Kincora.
Origo disposed of the Shares pursuant to the Agreement in furtherance of its investment strategy. Origo does not anticipate that it shall increase its beneficial ownership, control or direction over securities of Kincora in the future.
The Shares were disposed of under an exemption from the take-over bid requirements set out in section 4.2 of NI 62-104 and under an exemption from the prospectus requirements set out in section 2.3 of NI 45-106.
A copy of the report filed in accordance with applicable securities legislation may be obtained by contacting Niklas Ponnert at 86 (10) 5381 2055.
ORIGO PARTNERS PLC