VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2011) - Regent Pacific Group Limited ("Regent Pacific") announces that it has acquired beneficial ownership and control of 10,000,000 units ("Units") of Compass Gold Corporation ("Compass") in connection with a private placement of a total of 35,000,000 Units of Compass which closed on November 24, 2011.
Each Unit consists of one common share of Compass and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of Compass at a price of $0.15 until May 24, 2013.
The 10,000,000 common shares and 10,000,000 Warrants comprising the Units acquired by Regent Pacific represent 12.4% of Compass's issued and outstanding common shares on a non-diluted basis or 22.1% of Compass's issued and outstanding common shares calculated on a partially-diluted basis assuming the exercise of Regent Pacific's Warrants. Regent Pacific does not hold any other securities of Compass at this time.
Regent Pacific acquired the securities for investment purposes and intends to evaluate its investment in Compass and to increase or decrease its beneficial shareholdings from time to time as it may determine appropriate for investment purposes.
A copy of the early warning report being filed by Regent Pacific may be obtained by contacting Darren Devine, the Corporate Secretary of Compass at (604) 638-8067.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Darren Devine
Corporate Secretary
(604) 638-8067