Acquisition of Shares of NewWest Gold Corporation by J. E. Safra
Toronto, Canada (ots/PRNewswire)
Jacob E. Safra ("Safra")
announced today that, through an entity indirectly 100% controlled
by him, he acquired 150,000 common shares of NewWest Gold
Corporation (the "Corporation") on December 6, 2006 and 22,400
common shares of the Corporation on December 7, 2006, which
acquisitions were made through the Toronto Stock Exchange. Prior to
completion of an initial public offering of the Corporation on
August 29, 2006, NWG Investments Inc. ("NWG"), a company wholly
owned by Safra, owned 100% of the 50,000,000 outstanding common
shares of the Corporation and immediately following completion of
the offering (not including the exercise of an over-allotment
granted to underwriters on the offering), NWG's ownership of
50,000,000 represented approximately 85% of the total outstanding
shares of the Corporation.The purchase of these additional shares by Safra, together with the shares previously held by NWG, provide Safra with beneficial ownership, control and direction of a total of 50,172,400 common shares of the Corporation, or approximately 86% of the outstanding shares.
The Common Shares were acquired for investment purposes. Safra may from time to time through wholly owned vehicles acquire additional Common Shares, dispose of some or all of the Common Shares held by it indirectly through his wholly-owned companies, or continue to hold Common Shares in the normal course of its investment activities, subject to applicable securities laws and the certain other transfer restrictions.
Contact:
For further information: (including a copy of the report to be filed
with CanadiaConstantine S. (Don) Yannias, Attorney-in-fact for Jacob
E. Safra, +1-(312)-640-7000