TORONTO, ONTARIO--(Marketwire - Nov. 14, 2012) - Allied Link Holdings Limited ("ALH") announces that on November 14 2012 it acquired 3,313,000 common shares (the "Shares") of Telferscot Resources Inc. ("Telferscot") at a price of $0.15 per share pursuant to a private placement with Telferscot for gross proceeds of $496,950. The 3,313,000 Shares represent 8.18% of Telferscot's outstanding capital.
In a separate transaction, ALH has acquired 2,000,000 warrants (the "Warrants") to acquire common shares of Telferscot at a price of $0.05 per share until January 15, 2015 for $1.00 from an arm's length party. If the Warrants were exercised, they would represent a further 4.7% of outstanding capital on a partially diluted basis.
Prior to the completion of this transaction, ALH held 6,924,200 common shares. Following the completion of the transactions described herein, ALH holds 10,237,200 common shares representing 25.27% of outstanding capital and 2,000,000 Warrants, which if exercised in full, would result in him holding a total of 12,237,200 common shares representing 28.79% of outstanding capital on a partially diluted basis. In addition, parties with whom ALH acts with jointly or in concert, own a further 500,000 common shares for a total of 10,737,200 common shares representing 26.5% of outstanding capital and 12,737,200 common shares assuming full exercise of the Warrants representing 29.96% of outstanding capital on a partially diluted basis.
The securities referred to above are held for investment purposes and ALH and/or one or more of his affiliates may, depending on market and other conditions, increase or decrease his/its beneficial ownership of common shares or other securities of Telferscot whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. ALH can be reached at 310-717-6234 and will provide a copy of the early warning report being filed in compliance with applicable securities laws in respect of these transactions.