GRM Investments Ltd.

December 24, 2009 15:02 ET

GRM Investments Ltd. Announces Equity Investment in Deepwell Energy Services Trust

CALGARY, ALBERTA--(Marketwire - Dec. 24, 2009) - GRM Investments Ltd. ("GRM") announces that on December 18, 2009, GRM acquired an aggregate of 350,164 trust units (the "Units") of Deepwell Energy Services Trust (the "Issuer") pursuant to a rights offering at a subscription price of $0.72 per Unit.

The Units acquired by GRM are held for investment purposes. This investment will be reviewed by GRM on a continuing basis and such holdings may be increased or decreased in the future. GRM may in the future acquire or dispose of Units, through the open market, privately or otherwise, as circumstances or market conditions dictate.

Immediately after the completion of the transactions referred to above, GRM exercised control or direction over 2,746,849 Units representing 17.91% of the issued and outstanding Units as at December 23, 2009.

GRM will file an early warning report pursuant to National Instrument 62-103
"The Early Warning System and Related TakeOver Bid and Insider Reporting Issues" describing the above transactions with applicable securities regulatory authorities, a copy of which will be available at www.sedar.com.

Sam Parrotta, Chief Financial Officer

Contact Information

  • GRM Investments Ltd.
    Sam Parrotta
    Chief Financial Officer
    (604) 602-7711
    (604) 688-7907 (FAX)