TORONTO, Dec. 30, 2024 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX, OTCQB:BSXGF) is pleased to announce La Mancha Investments S. à r. l. (“La Mancha”) (a subsidiary of La Mancha Resource Fund SCSp), as a new shareholder and investor in the Company. La Mancha will hold approximately 17.1% of the Company’s outstanding common shares (“Common Shares”), making them Belo Sun’s largest shareholder, upon completion of the Acquisition and the Offering described hereunder.
La Mancha’s acquisition includes the purchase from Sun Valley Gold LLC (“SVG”) of approximately 68.3 million (or 15%) of the Common Shares (the “Acquisition”) and the concurrent subscription from the Company of approximately 11,660,790 Common Shares by way of a non-brokered private placement at a price of C$0.10 per Common Share for gross proceeds to the Company of approximately C$1,166,079…
