Pasquale DiCapo

August 07, 2009 17:00 ET

Pasquale Dicapo Acquires Securities of Cronus Resources Ltd.

TORONTO, ONTARIO--(Marketwire - Aug. 7, 2009) - Mr. Pasquale DiCapo ("DiCapo"), 130 King Street West, Suite 2500, Toronto, Ontario M5X 1A9 announces that on August 5, 2009, it acquired ownership of 750,000 common shares ("Common Shares") of Cronus Resources Ltd. ("Cronus") and 375,000 common share purchase warrants (the "Warrants") (each Warrant entitling the holder thereof to acquire one additional Common Share at a price of $0.40 until August 5, 2011) which securities were acquired by DiCapo directly. These holdings represent approximately 4.9% of the issued and outstanding Common Shares (or approximately 7.17% on a partially diluted basis, assuming exercise of the Warrants only). The Common Shares and Warrants were acquired by DiCapo at a purchase price of $0.20 per unit, each unit consisting of one Common Share and one-half of one Warrant, pursuant to the exemption set forth in Section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions.

Immediately following the transaction noted above, DiCapo owns: (i) 1,750,000 Common Shares (of which 1,687,500 are owned by DiCapo directly and 62,500 are owned by DiCapo indirectly); and (ii) 625,000 warrants (including the Warrants) which are owned by DiCapo directly. Such securities represent approximately 11.42% of the issued and outstanding Common Shares (or approximately 14.89% on a partially diluted basis, assuming exercise of the warrants only).

These transactions were made for investment purposes and DiCapo and his joint actors could increase or decrease their respective investments in Cronus depending on market conditions or any other relevant factor.

To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:
Shaun Drake
Tel: 416-848-0107
Fax: 416-848-0790
sdrake@mdcorp.ca
50 Richmond Street East,
Suite 101,
Toronto, ON M5C 1N7

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