D. Grenville Thomas

May 16, 2008 12:47 ET

Anglo Celtic Ltd. Increases its Holdings of Strongbow Exploration Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2008) - D. Grenville Thomas announces that he has acquired, through Anglo Celtic Exploration Ltd., ownership and control of 750,000 common shares and 375,000 common share purchase warrants of Strongbow Exploration Inc. ("Strongbow") in a private placement of flow-through units at $0.40 per unit or in aggregate $300,000 in cash. Each flow-through unit is comprised of one common share of Strongbow and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one common share of Strongbow at $0.45 on at before May 15, 2009. All Strongbow flow-through units were acquired by Mr. Thomas for investment purposes.

Upon completion of these transactions, Strongbow has 56,995,963 common shares outstanding, of which 10.8%, or 6,149,199 common shares, are held by Mr. Thomas. In addition, under applicable securities laws, Mr. Thomas is deemed to own all of the common shares of Strongbow issuable upon exercise of the 375,000 warrants acquired in the private placement and all 1,075,000 stock options of Strongbow held by him as a director and Chairman of Strongbow. Therefore, including all common shares Mr. Thomas is deemed to own, Mr. Thomas owns 7,599,199, or approximately 13.0% of the outstanding, common shares of Strongbow.

Mr. Thomas does not presently intend to increase his shareholdings in Strongbow.

A copy of the early warning report being filed by Mr. Thomas may be obtained by contacting Zara Boldt, Corporate Secretary of Strongbow, at 604-668-8355.

D. Grenville Thomas

Contact Information

  • D. Grenville Thomas
    (604) 668-8355
    (604) 668-8366 (FAX)