Mega Uranium Ltd. (TSE:MGA) reports that it has acquired securities of Tournigan Energy Ltd (CVE:TVC).
Mega Uranium Ltd. (TSX:MGA) reports that it has acquired securities of Tournigan Energy Ltd (TSXV:TVC).
The press release is quoted as saying:
Each warrant entitles the holder thereof to acquire one additional common share at a price of $0.40 until December 30, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 7.5% of the total issued and outstanding common shares of Tournigan as of December 30, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Mega and its joint actors collectively held, as at December 30, 2010, an aggregate of 16,339,000 common shares of Tournigan, including the Common Shares and rights to acquire an additional 5,750,000 common shares of Tournigan upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants.