pala invests / 30 mio shares of elm 13.90%

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Pala Invests in Elemental Minerals Limited / PIHL acquired a total of 30,000,000 ordinary shares of Elemental Minerals Limited

8/18/2011 8:33 AM - Canada NewsWire

TORONTO, Aug. 18, 2011, 2011 (Canada NewsWire via COMTEX News Network) --

Pala Investments Holdings Limited ("PIHL") announced today that on August 16, 2011, PIHL acquired a total of 30,000,000 ordinary shares of Elemental Minerals Limited ("Elemental"), representing approximately 13.90% of the 215,855,605 issued and outstanding ordinary shares of Elemental, as known by PIHL. The ordinary shares were acquired through participation in Elemental's initial public offering of ordinary shares listed on the Toronto Stock Exchange.

After giving effect to the acquisitions referred to above, PIHL owns and controls, directly and indirectly, a total of 30,000,000 ordinary shares representing approximately 13.90% of the issued and outstanding shares of Elemental, as known by PIHL.

The consideration for each ordinary share of Elemental acquired was CDN$1.26 per ordinary share. PIHL has acquired the ordinary shares for investment purposes and may increase or decrease the investment in the ordinary shares depending upon future market conditions.

PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For further information please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070.

About Pala

Pala Investments Holdings Limited is a multi-strategy investment company dedicated to investing in, and creating value across, the mining sector in both developed and emerging markets. Pala Investments' exclusive investment advisor, Pala Investments AG, has extensive experience within the mining sector. Pala Investments seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions. For more information, visit www.pala.com.


[url]http://www.pala.com[/url]