Gestion Marc Blais Inc.

December 15, 2010 16:49 ET

Acquisition of Shares of Sunset Cove Mining Inc. by Gestion Marc Blais Inc. and Marc Blais

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2010) - Gestion Marc Blais Inc. ("GMB") announces that it has acquired ownership of an aggregate of 4,240,000 common shares of Sunset Cove Mining Inc. (TSX VENTURE:SSM) ("Sunset Cove"), representing approximately 11.8% of the 35,565,101 issued and outstanding common shares of Sunset Cove.

GMB is a private Quebec corporation controlled by Marc Blais, who is a director and the Chief Operating Officer of Sunset Cove. GMB acquired the Sunset Cove shares pursuant to the completion of the Qualifying Transaction (as defined by the policies of the TSX Venture Exchange) described in the Filing Statement of Sunset Cove dated November 15, 2010, a copy of which is available under Sunset's Cove profile on www.sedar.com. The shares were acquired pursuant to a three-cornered amalgamation agreement dated October 12, 2010 (the "Amalgamation Agreement") between 7712898 Canada Inc., a Canadian company formerly known as Sunset Cove Mining Inc. ("Old Sunset Cove"), 7596855 Canada Inc., and Sunset Cove; GMB acquired its Sunset Cove shares in exchange for the cancellation of its shares held in Old Sunset Cove pursuant to the amalgamation.

In addition, on December 3, 2010, GMB (pursuant to the Amalgamation Agreement) acquired 220,000 share purchase warrants at an exercise price of $0.25 with an expiry date of June 3, 2012, in exchange for the cancellation of share purchase warrants held by GMB in Old Sunset Cove. Furthermore and also on December 3, 2010, Marc Blais received options to acquire 400,000 common shares of Sunset Cove at an exercise price of $0.20 per share with an expiry date of December 3, 2015.

The securities of Sunset Cove were acquired for investment purposes by a principal of Sunset Cove in connection with its Qualifying Transaction. Depending on market and other conditions, GMB and/or Marc Blais may, from time to time, increase or decrease their ownership, control or direction over the common shares or other securities of Sunset Cove.

Contact Information

  • Gestion Marc Blais Inc.
    Marc Blais
    President
    (514) 592-4342