WEST PALM BEACH, Fla., Jan. 26, 2018 (GLOBE NEWSWIRE) -- As of January 12, 2018, Mr. Neil S. Subin has succeeded to the position of President and Manager of MILFAM LLC, which serves as manager, general partner or investment advisor of a number of entities formerly managed or advised by the late Mr. Lloyd I. Miller, III. Mr. Subin also serves as trustee of certain Miller family trusts.
Mr. Subin assumed control or direction over the securities of the above-named companies formerly held by Mr. Miller. There has been no change in the entities through which control or direction is now held by Mr. Subin in the above-named companies or the number of securities held in those companies as listed on insider reports previously filed by Mr. Miller on www.sedi.ca (although for Southern Arc Minerals Inc., control or direction has increased on a partially diluted basis by 2.08% from 17.97% to 20.05% as a result of share repurchases by Southern Arc Minerals Inc.). Also, Mr. Subin has no pecuniary interest in any of the above-named companies. Presently, there is no change in the investment intent as disclosed in press releases and/or early warning reports previously filed by Mr. Miller in respect of the above-named companies. Mr. Subin is in the process of deciding which investment approach will maximize shareholder value and will update any regulatory filings, as necessary and advisable, to disclose any plans, proposals, or purposes with respect to the above-named companies.
This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the above-named companies, copies of which are filed on www.sedar.com, please contact:
| Neil S. Subin | Eric W. Fangmann | ||
| 3300 South Dixie Highway | 3300 South Dixie Highway | ||
| Suite I-365 | Suite I-365 | ||
| West Palm Beach, Florida | West Palm Beach, Florida | ||
| USA 33405 | USA 33405 | ||
| info@limadvisory.com | info@limadvisory.com |