TORONTO, Feb. 12, 2013 /CNW/ - Geologic Resource Partners LLC, for its own account and on behalf of client accounts over which it has discretionary trading authority ("Geologic"), announced today that it purchased on January 16, 2013, 2,307,692 common shares (the "Shares") and 1,153,846 common share purchase warrants (the "Warrants") of Atico Mining Corporation ("Atico"). Each Warrant entitles the holder to purchase an additional Share at a price of $0.90 per Share until July 16, 2014. Prior to this purchase, Geologic, owned 3,000,000 Shares. As well, during the month of January, 2013, Geologic sold 500,000 Shares of Atico. Geologic's total holdings in Atico as of January 31, 2013 is 4,807,692 Shares and 1,153,846 Warrants. Assuming the conversion of the Warrants, Geologic would hold and control 5,961,538 Shares representing approximately 11.44% of the issued and outstanding shares of Atico on a partially diluted basis.
Geologic has exclusive control over all of the securities but does not have ownership.
Geologic has purchased these securities for investment purposes, and may increase or decrease its investment in the securities of Atico depending upon future market conditions.
Geologic is an investment advisory firm specializing in precious metals, industrial metals, and energy minerals equities.