Just in case you were wondering why....| April 16, 2010 | |
| News Release | |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2010) - Ross J. Beaty, of 1500 - 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 April 15, 2010 Mr. Beaty indirectly acquired ownership and control of 3,350,000 common shares of Augusta Resources Corporation ("Augusta") upon the exercise of 3,350,000 common share purchase warrants of August at an exercise price of CDN$2.30 per warrant, for a total purchase price of CDN$7,705,000. As a result of this acquisition, Mr. Beaty now owns, directly or indirectly, a total of 14,535,000 common shares of Augusta, together representing approximately 11.88% of the 122,350,480 common shares currently outstanding. Mr. Beaty's indirect acquisition was made for investment purposes. Although Mr. Beaty has no current plans to do so, he may acquire ownership or control over additional securities of Augusta in the future. Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Augusta. Other than Kestrel Holdings Ltd., a company which is wholly-owned by Mr. Beaty, Mr. Beaty does not own or control any securities of Augusta with, nor is Mr. Beaty a joint actor with, another entity. |