Mega Uranium Ltd. (TSX:MGA) announced that as of July 4, 2014, it acquired ownership of 3,571,428 common shares and 3,571,428 common share purchase warrants of Macusani Yellowcake Inc. The transaction represents roughly 4.2% of the total issued and outstanding shares of Macusani.
According to the company’s press release:
As a result of this transaction, Mega and its joint actors collectively held, as at July 4, 2014, an aggregate of 13,914,428 common shares of Macusani, including the Common Shares, and the Warrants. Of these totals, Mega owns 10,811,428 common shares of Macusani, including the Common shares, and the Warrants directly. In the event the Warrants are fully exercised, the holdings of Mega and its joint actors represents a total of 17,485,856 common shares of Macusani or approximately 10.2% of all issued and outstanding common shares as at July 4, 2014, calculated on a partially diluted basis assuming the exercise of the Warrants only.