George Town, May 19, 2017 - OakRun Precious Metals Fund, Ltd. ("OakRun Fund"), c/o Mourant Ozannes Corporate Services Cayman Ltd., 94 Solaris Ave., PO Box 1348, Grand Cayman KY1-1108, announced today that it has disposed of 1,785,716 common shares of
Zephyr Minerals Ltd. ("Zephyr"), with its head office at 1300-1959 Upper Water Street, Purdy's Wharf Tower I, Halifax, Nova Scotia B3J 3N2, in accordance with the terms of a share purchase agreement. OakRun Fund intends to use the proceeds to participant in the recently announced Zephyr private placement.
OakRun Capital LLC, a company owned and managed by Scott Rhodenizer, is the investment manager of OakRun Fund. OakRun Capital LLC has voting control of the shares of Zephyr owned by OakRun Fund.
OakRun disposed of the common shares for asset management purposes at a price of $0.28 per common share for aggregate gross proceeds of $500,000.48. Immediately prior to the disposition, OakRun owned 11,000,000 common shares and 4,787,500 common share purchase warrants of Zephyr. The aggregate number of common shares of Zephyr held by OakRun before the disposition represents approximately 31.4% of all outstanding common shares of Zephyr.
Following the disposition, OakRun Fund now owns 9,214,284 common shares of Zephyr, which represents approximately 26.3% of all outstanding common shares of Zephyr, a decrease of 5.1%. In addition, OakRun Fund owns 4,787,500 common share share purchase warrants of Zephyr.
Further details may be obtained from the Early Warning Report filed on SEDAR by OakRun Fund under Zephyr's profile or by contacting Scott Rhodenizer at 305-799-7711.
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