St Andrew increases Apollo interest to 12.3%
2007-02-06 16:25 ET - News Release
Mr. Glenn Laing reports
ST ANDREW ANNOUNCES FURTHER INCREASE IN STRATEGIC POSITION IN APOLLO GOLD CORPORATION
St Andrew Goldfields Ltd. has increased its position in Apollo Gold Corp. to approximately 12.3 per cent.
St Andrew has filed with the United States Securities Exchange Commission an amendment to its statement of beneficial ownership on Schedule 13D confirming that as of Feb. 2, 2007, it had acquired 2,254,000 shares of Apollo. On Feb. 5, 2007, St Andrew acquired an additional 1,057,900 shares for a total of 17,546,100 shares. As of Feb. 6, 2007, St Andrew held an approximate 12.3-per-cent interest in Apollo.
This additional interest increases the strategic investment in Apollo to approximately 12.3 per cent of the outstanding common shares of Apollo on an undiluted basis and is part of St Andrew's strategy to become a mid-tier gold mining company and exploration company through the acquisition of direct or indirect interests in gold properties in known gold belts located in stable political environments throughout the world. |
