Silver Point Capital, L.P.is pleased to announce that on January 9, 2024, two of its affiliates, DOIP II Luxembourg Strategies S.à r.l. and SPCP Luxembourg Strategies S.à r.l., entered into an agreement with Fulcrum Global Markets LLC to acquire, in aggregate, 111,920,836 common shares of Rusoro Mining Ltd. (TSXV:RML), at USD$0.473122476 per Rusoro Share for a total of USD$52,952,263.05. Pursuant to the agreement, DOIP will acquire 30,033,493 Rusoro Shares and SPCP will acquire 81,887,343 Rusoro Shares.
Prior to entering into the Silver Point Acquisition, none of the Silver Point Entities owned any Rusoro Shares. Following completion of the Silver Point Acquisition, Silver Point will have control or direction over approximately 19.47% of the issued and outstanding Rusoro Shares, with DOIP owning approximately 5.22% and SPCP owning approximately 14.25%.
Closing of the Silver Point Acquisition is conditional upon, among other things, Fulcrum having ownership of the Rusoro Shares.
DOIP and SPCP are acquiring the Acquired Shares for investment purposes and may increase or decrease their ownership of Rusoro Shares, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including their respective evaluation of the business, prospects and financial condition of Rusoro, the market for Rusoro’s securities, general economic and tax conditions, and other factors.
Additional Early Warning Disclosure
By virtue of acquisition by DOIP and SPCP of the Acquired Shares, the Silver Point Entities are required to file an early warning report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will be filed on Rusoro’s SEDAR+ profile at www.sedarplus.ca. For further information, or to obtain a copy of the corresponding early warning report please contact Todd Forgarty at 212-521-4854.
Rusoro is listed on the TSX Venture Exchange under the symbol RML, and has a head office at Suite 3123 – 595 Burrard Street, PO Box 49139, Vancouver, BC V7X 1J1.
Silver Point Capital is a global credit investing firm. Founded in 2002 by Ed Mulé and Bob O’Shea, today the Firm manages approximately $26 billion of investable assets. Silver Point is a Delaware limited partnership with its principal place of business located at Two Greenwich Plaza, Suite 1, Greenwich, Connecticut.