St. Andrew buys 2.92 million shares of Apollo Gold
2007-01-15 16:14 ET - News Release
Also News Release (C-APG) Apollo Gold Corp
Mr. Glenn Laing of St. Andrew reports
ST ANDREW INCREASES STRATEGIC POSITION IN APOLLO GOLD CORPORATION TO TEN PERCENT
St. Andrew Goldfields Ltd. has increased its strategic position in Apollo Gold Corp. to approximately 10 per cent.
St. Andrew will promptly file a Form 13-D filing with the United States Securities Exchange Commission that, as of Dec. 14, 2006, it had acquired 11,310,700 shares of Apollo Gold and since that date has acquired an additional 2,923,500 shares for a total of 14,234,200 shares as of Jan. 15, 2007. As of Jan. 15, 2007, St. Andrew held an approximate 10-per-cent interest in Apollo Gold.
This additional interest increases the strategic investment in Apollo Gold to approximately 10 per cent of the outstanding common shares of Apollo Gold 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. Depending on market conditions and other factors, St. Andrew may increase or decrease its holdings in Apollo Gold in the future.
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