Mr. Darin Wagner

June 21, 2010 12:45 ET

Mr. Darin Wagner Announces Acquisition of Common Shares of Balmoral Resources Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Mr. Darin Wagner (the "Offeror") announced that on June 11, 2010 he acquired, by way of private purchase and sale, an aggregate of 4,000,000 common shares ("Shares") of Balmoral Resources Ltd. ("the Issuer") (TSXV:BAR.H) representing approximately 13.51% of the outstanding Shares of the Issuer. The Shares were acquired in an off-market transaction, at a price of CAD $0.06 per share for an aggregate cost of CAD $240,000, pursuant to a Purchase and Sale Agreement dated June 4, 2010 between the Offeror and Mr. Hendrik van Alphen. Mr. Wagner is the new President and CEO of the Issuer and Mr. Van Alphen is a director and the former President of the Issuer.

The Shares are required to be held in escrow in accordance with TSX Venture Exchange rules and the Offeror is bound by the existing escrow agreement, dated March 29, 2010, between Mr. Van Alphen and Computershare Investor Services Inc.

After giving effect to the above purchase the Offeror owns, directly or indirectly, an aggregate of 4,115,000 Shares of the Issuer representing 13.89% of the current outstanding Shares of the Issuer. The Offeror has acquired the common shares for investment purposes and in order to exert control over the affairs of the Issuer through the voting thereof at general meetings of the shareholders of the Company. The Offeror will review his holdings in the Issuer from time to time, and may increase or decrease his position through the open market, privately or otherwise, as future circumstances dictate.

The TSX Venture Exchange accepted the transfer within escrow on June 11, 2010. The Offeror has filed an Early Warning Report pursuant to National Instrument 62-103 describing the transaction above with the applicable securities regulators, a copy of which shall be sent promptly to anyone who requests it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Contact Information

  • Mr. Darin Wagner
    C/o Balmoral Resources Inc.
    1920-1188 West Georgia Street
    Vancouver, B.C.
    V6E 4A2
    (604) 638-3664