Vitol Purchase of Securities of Hillsborough Resources Limited
Vitol announced that, through its wholly owned subsidiary, Vitol Anker International B.V., it has today purchased 6,355,300 common shares, common share purchase warrants exercisable into 3,000,000 common shares and debentures convertible into 3,435,000 common shares of Hillsborough Resources Limited (“Hillsborough”). These represent all of the securities of Hillsborough beneficially owned or controlled or directed by MinQuest Fund I, L. P. (“MinQuest”)
The purchase of the Hillsborough securities was made based on a price of C$0.95 per common share, pursuant to a private agreement between Vitol and Minquest.
A copy of the related warning report filed with the applicable securities regulatory authorities may be obtained from the SEDAR website (www.sedar.com).
Hillsborough Resources Limited is a coal mining company that operates the Quinsam underground thermal coal mine in Campbell River, British Columbia serving the local and west-coast U.S. cement industry. It also owns other coal assets.