News Release
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| Posted
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Fri, 06 Nov 2009 22:47:32 GMT |
| Author
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Ross J. Beaty |
| Category
:
Press Release |
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VANCOUVER, BRITISH COLUMBIA -- 11/06/09 --
Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on November 5, 2009, Mr. Beaty indirectly acquired ownership and control of 34,250,000 units (each, a "Unit") of Nord Resources Corporation ("Nord") by way of a private placement for aggregate consideration of US$10,275,000, or US$0.30 per Unit. Each Unit is comprised of one common share and one share purchase warrant of Nord. As a result of this acquisition, Mr. Beaty owns, directly or indirectly, a total of 34,250,000 common shares representing approximately 31% of the total number of common shares currently issued and outstanding.
In addition, Mr. Beaty holds, directly and indirectly, share purchase warrants to acquire an additional 34,250,000 common shares of Nord. If all such share purchase warrants are exercised, Mr. Beaty would exercise ownership and control, directly or indirectly, over a total of 68,500,000 common shares of Nord, which would represent approximately 47.3% of the then 144,678,919 issued and outstanding common shares of Nord.
Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Nord for investment purposes.
Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Nord.
Other than 864930 B.C. Ltd., a company which is wholly-owned by Mr. Beaty, Mr. Beaty does not own or control any securities of Nord with, nor is Mr. Beaty a joint actor with, another entity.
For more information, or to obtain a copy of the subject early warning report, please contact Ross J. Beaty.
Contacts:
Ross J. Beaty
1550 - 625 Howe Street
Vancouver, British Columbia V6C 2T6
(604) 684-1175
(604) 684-0147 (FAX)
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