TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Cyrus Capital Partners, L.P. (“CCP”) is issuing this press release pursuant to applicable Canadian securities regulatory requirements upon becoming aware that its holdings of common shares (“Common Shares”) of AEX Gold Inc. (“AEX”) have decreased to less than 10% of the outstanding Common Shares as a result of the issuance of additional Common Shares by AEX.
Prior to the July 27, 2020 issuance of shares by AEX (as disclosed in a news release of AEX of even date therewith and a material change report of AEX dated July 31, 2020), CCP, through FBC Holdings S.à.r.l. (“FBC Holdings”), held indirect control over 14,224,562 Common Shares of AEX, representing 17.30% of the then 82,218,665 issued and outstanding Common Shares of AEX. FBC Holdings is an investment fund managed by CCP.
Following the July 27, 2020 issuance of Common Shares by AEX, CCP, through FBC, has indirect control over 14,224,562 Common Shares, representing 8.03% of the 177,098,737 issued and outstanding Common Shares of AEX.
Other Information
CCP indirectly controls (through FBC Holdings’ ownership) the Common Shares that are the subject of this release ownership for investment purposes.
Neither CCP nor FBC Holdings has any current plans or future intentions which relate to or would result in any of the matters enumerated in paragraphs (a) - (k) of Item 5 of the report on Form 62-103F1 being filed connection with the matters disclosed in this release.
Notwithstanding this, in connection with the investment by FBC Holdings in the Common Shares, CCP may engage in communications with members of management and the board of directors of AEX, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors with respect to AEX. CCP intends to review FBC Holdings’ investment in AEX on a continuing basis. Depending on various factors including, without limitation, AEX’s financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, CCP’s or FBC Holdings’ business or financial condition and other factors and conditions CCP deems appropriate, FBC Holdings may in the future take such actions with respect to their investment in AEX as CCP deems appropriate including, without limitation, seeking additional board representation, making proposals to AEX concerning changes to the capitalization, ownership structure or operations of AEX, acquiring additional Common Shares, and/or selling or otherwise disposing of some or all of their Common Shares. In addition, CCP may formulate other purposes, plans or proposals regarding AEX or any of its securities to the extent deemed advisable in light of general investment and trading policies, market conditions or other factors or may change its intention with respect to any and all matters referred to in Item 5 of the report on Form 62-103F1 being filed connection with the matters disclosed in this release.
Except as specifically indicated in this press release, neither the issuance of this press release in connection with the matters disclosed herein nor the anticipated filing by CCP of the corresponding “early warning” report required to be filed in accordance with applicable Canadian securities laws is an admission that an entity named or otherwise referred to in this press release owns or controls any described securities or is a joint actor with another entity named or otherwise referred to in this press release.
CCP’s address and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the “early warning” report required to be filed in accordance with applicable Canadian securities laws, contact CCP at the address specified below. CCP was formed under the laws of Delaware and is an SEC registered investment adviser.
Cyrus Capital Partners, L.P.
65 East 55th Street, 35th Floor
New York, NY 10022
United States of America
| Attn: | David A. Milich, Chief Operating Officer |
| Tel: | (212) 380-5800 |