GoldTrain Resources Inc.

October 01, 2009 20:43 ET

GoldTrain Shareholder News Release

TORONTO, ONTARIO--(Marketwire - Oct. 1, 2009) - Donald A. Sheldon (the "Offeror") of #1801-180 Dundas Street West, Toronto, Ontario M5G 1Z8 annouces an increase of his direct and indirect holdings in GoldTrain Resources Inc. ("GoldTrain" or the "Issuer").

On September 21, 2009, the Offeror acquired direct ownership of 50,000 common shares of GoldTrain pursuant to the exercise of class A warrants at $0.12 each and indirect of an additional 106,989 common shares when Suite 1800 Magagement Ltd exercised all of its 106,989 class A warrants at $0.12 each. On expiry of the class A warrants on September 30, 2009, Suite 1800 Management Ltd exercised its oversubscription privileges to acquire an additional 1,635,000 shares. The Offeror now owns or controls a total of 4,169,945 common shares (the "Shares") 1,625,000 class B warrants, representing approximately 19.37% of the issued and outstanding common shares of GoldTrain and approximately 56% of the outstanding class B warrants.

The securities issued were exempted from securities legislation under the "Conversion, exchange or exercise" exemptions set out in Sections 2.42(1)(a) and 3.42(1)(a) of National Instrument 45-106 - Prospectus and Registration Exemptions. The securities acquired directly or indirectly in the Issuer as described above were acquired for investment purposes without any current intention to increase or decrease such holdings. The Offeror takes a long-term view of the investment and reserves the right to formulate other plans and take such actions with respect to the investment in the Issuer as may be determined from time to time.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website at A copy of the Early Warning Report may also be obtained by contacting the Offeror at (416) 595-0147.

Contact Information

  • Donald A. Sheldon
    416-595-5151 ext. 101