This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IFC Enters Into Binding Agreement With Tsodilo Resources Limited To Purchase Common Shares And Warrants Of Tsodilo By Private Placement

WASHINGTON, Aug. 31, 2012 /CNW/ - IFC, a member of the World Bank Group, entered into a binding agreement with Tsodilo Resources Limited ("Tsodilo") to purchase 1,818,181 units at a price of CAD$1.10 per unit to be issued by Tsodilo by private placement (the "Private Placement"). Each unit is composed of one Tsodilo common share and one warrant to purchase a Tsodilo common share at an exercise price of US$1.21. Each warrant is exercisable until June 29, 2015. IFC previously acquired 2,702,202 Tsodilo common shares and 2,702,702 warrants to purchase Tsodilo common shares in a private placement which closed in June 2010. Each warrant acquired under the June 2010 private placement entitles IFC to acquire one Tsodilo common share at an exercise price of CAD$2.17 for a period of five years from the closing of the June 2010 private placement.

Upon completion of the Private Placement, there will be 28,049,151 outstanding Tsodilo common shares. Pursuant to the Private Placement, IFC will acquire beneficial ownership of approximately 6.50% of the outstanding common shares. Immediately upon the closing of the Private Placement, it is expected that IFC will directly hold approximately 16.12% of Tsodilo's outstanding common shares and approximately 27.76% percent of the outstanding common shares assuming the exercise of all of the warrants held by IFC.

The Private Placement is expected to close by the end of September 2012.

IFC is acquiring the common shares and warrants for investment purposes. IFC may, in the future, take such actions in respect of its holdings as IFC deems appropriate in light of the circumstances then existing.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, IFC investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org. International Finance Corporation, 2121 Pennsylvania Avenue N.W., Washington D.C. 20433

IFC is an international organization established by Articles of Agreement among its member countries, including Canada, and as such, enjoys certain immunities, privileges and exemptions, including the freedom of all of its property and assets from restrictions, regulations, controls and moratoria of any nature. The voluntary provision by IFC of the information in this press release does not in any way constitute or imply a waiver, termination or modification by IFC of any privilege, immunity or exemption of IFC granted in the Articles of Agreement establishing IFC, international conventions, or applicable law.

SOURCE IFC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.60 +42.38 0.25%
S&P 500 1,983.96 +6.16 0.31%
NASDAQ 4,520.3970 +14.5450 0.32%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs