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White Tiger Announces that a Significant Shareholder has Completed its Purchase of Shares through Private Sales
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thizsukz
67 Posts
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March 20, 2013 - 11:46 am
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TORONTO, Mar 20, 2013, 2013 (Canada NewsWire via COMTEX) --White Tiger Gold Ltd. ("White Tiger" or the "Company") (TSX: WTG) announces that it has been notified that an insider and shareholder of the Company, Unique Goals International Ltd ("Unique"), has completed the purchase (the "Purchase") of an aggregate of 268,700,731 common shares of the Company ("Shares"). The Company understands that the Purchase was completed by way of private transactions with two beneficial shareholders of the Company, with 238,700,371 Shares being purchased from companies wholly-owned by Mr. Maxim Finskiy, a director and insider of the Company, and 30,000,000 Shares being purchased from Inger Industries Ltd.

Unique is controlled by Mr. Sergey Yanchukov. As a result of the Purchase, Mr. Yanchukov now beneficially owns, or has control and direction over an aggregate of 338,300,208 Shares, representing approximately 70.25% of the issued and outstanding Shares. If the warrants of the Company controlled by Mr. Yanchukov are fully exercised into 204,010,013 Shares, Mr. Yanchukov would control 542,310,221 Shares representing approximately 79.10% of the issued and outstanding Shares (after giving effect to such exercise).

The Company also announces Mr. Maxim Finskiy has resigned from his roles as Executive Chairman and a director of the Company, effective immediately. Mr. Finskiy resigned in order to pursue other interests.

Jim McBurney, CEO of White Tiger, said, "On behalf of the Board of Directors, I would like to thank Mr. Finskiy for his leadership and service to the Company."

About White Tiger

White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.

Caution Concerning Forward-Looking Information

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nt300
529 Posts
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2
March 23, 2013 - 8:43 am
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This company is a joke.

They've destroyed shareholder value.

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glenfidish
70 Posts
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3
March 24, 2013 - 8:40 am
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More like classic Russian robbery! I lost my share of money sometime ago.

Im not going to be a sore loser as I should have known better. For the ones still clinging to hope my advice is never to invest in any Russian comany as owners, board do directors or CEO. Stay fa away. Done much better with my Canadian run companies with Canadians running it.

You all should be asking relic and Carib to come out of hiding and explain the latest transaction since there both high on this company " for some strange reason".

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paliman
prince george
88 Posts
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4
March 24, 2013 - 9:33 am
0

glenfidish said
More like classic Russian robbery! I lost my share of money sometime ago.

Im not going to be a sore loser as I should have known better. For the ones still clinging to hope my advice is never to invest in any Russian comany as owners, board do directors or CEO. Stay fa away. Done much better with my Canadian run companies with Canadians running it.

You all should be asking relic and Carib to come out of hiding and explain the latest transaction since there both high on this company " for some strange reason".

Hey glenfidish it sounds like to me and this is just my humble opinion your mad at the wroung people, if memory serves me right CMM went broke even after the russians tried to save it by investing millions. At least we did not go completly broke like we would have with all Peggys lies. As for Relic and Carib leave them alone they will post when and where they want. I personally hope they capitalized on the last rise to .14 cents and sold or tripled the share count. Investing in this market is not for the squimish, you pays your money and you take your chances!

 

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Dean G
4 Posts
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5
March 26, 2013 - 9:46 am
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News ServiceStock IndexesForexEquitiesMarket AnalysisProducts and Services

25/03/2013
12:54
M&A: M. Finsky sells 49.5% stake in White Tiger Gold

Maxim Finsky, President of Intergeo MMC (part of ONEXIM Group), sold his 49.5% share in the authorized capital of White Tiger Gold established on the basis of Daltsvetmet Management Company, the Kommersant reported.

M. Finsky sold 238.7 million shares, while Inger Industries Ltd (its owners are undisclosed) sold a further 30 million shares. Therefore, Sergey Yanchukov, M. Finsky's former partner through Unique Goals International Ltd consolidated about 70.25% in WTG.

According to the Kommersant, WTG was established on the basis of Daltsvetmet M. Finsky acquired in 2008. In the fall of 2011, Gazprom's former top-manager S. Yanchukov joined the company's shareholding structure. Today, WTG owns gold and gold-copper deposits in Russia (Savkino, Nasedkino, Pridneprovskoe, Zolin-Arkinskoe and Takhtamygda through Diascia Investments Ltd (Cyprus). Mining operations are only active at Savkino (18.26 thousand ounces of gold in 2012, the designed capacity being 20 thousand ounces a year. In 2014, mining operations are expected to be launched at Nasedkino, with the initial output of 40 thousand ounces and prospects to increase it to 80 thousand ounces a year. Proven and probable reserves reach 13 million tonnes of ore with the average gold content of 1 ppm at Savkino, about 5 million tonnes (1.5-2 ppm) at Nasedkino. Other deposits are still in the prospecting stage, while WTG is operating below the break-even point, posting a loss of $8.6 million and a revenue of $20.9 million for 9 months 2012.

The Kommersant sources believe that M. Finsky pulled out of WTG because of unsolved issues with VTB Capital.

In December 2011, WTG reached agreement with VTB Capital for a $150 million loan secured by the group's enterprises. In February 2012, the bank opened a credit line, the interest rate equal to the 3-month LIBOR plus 8-14% per annum, depending on the company's output. Besides, WTG was obliged to sell all the gold produced to VTB, the parties even agreed on a fixed annual sales volume, which remained undisclosed. From the total amount of loan, WTG drew down $80 million, using half of the funds to repay an earlier loan to Sberbank and IFC, the other half to develop Savkino and Nasedkino.

In February 2013, WTG and VTB relations became strained: the company reported that the bank's managing director Dmitry Snesar had withdrawn from its Board of Directors after WTG failed to meet the gold delivery target. The Kommersant referring to the company's sources reports that VTB put off exercising its right to start recovery proceedings against the assets securing the loan for a while and notified WTG thereof on February 21.

VTB Bank (tax number: 7702070139) ranks second largest Russian bank after Sberbank in terms of assets. The state's share in its authorized capital is 75.5%. In Russia, VTB Group performs banking operations through one parent bank (VTB Bank) and six subsidiary banks (the largest of them being VTB 24, the Bank of Moscow and TransCreditBank). Outside of Russia, the group performs operations through 15 affiliated banks located in the CIS countries (Armenia, Ukraine (2 banks), Belarus (2 banks), Kazakhstan and Azerbaijan), in Europe (Austria, Cyprus, Germany, France, the UK and Serbia), Georgia, Angola (Africa) and through two representative offices located in Italy and China, through its branches in China and India and through two VTB Capital Plc. branches in Singapore and Dubai.

Net profit (IFRS) of VTB Group for 9 months 2012 decreased by 17.1% year-on-year to RUB 60.2 billion.

"AK&M", 25.03.2013

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glenfidish
70 Posts
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6
April 1, 2013 - 8:23 am
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As for the latest news, i expect wtg to go timberrrr at tomorrows open! 

Bankruptcy around the corner.Surprised

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