Black Hat Capital Inc.

August 17, 2005 19:40 ET

Black Hat Capital Inc.: News Release

CALGARY, ALBERTA--(CCNMatthews - Aug. 17, 2005) - Black Hat Capital Inc. (TSX VENTURE:BHC.P)

(Not for dissemination in the United States of America)

Linear Capital Corp. (the "Purchaser") announces that it has entered into an agreement to acquire an aggregate of 400,000 common shares in the capital of Black Hat Capital Inc. ("Black Hat"), from Steven A. Tedesco in a private transaction (the "Acquisition"). The completion of the Acquisition has received regulatory approval.

Upon completion of the Acquisition, the Purchaser, will own an aggregate of 1,180,000 common shares of Black Hat, representing 33.7% of the issued and outstanding common shares of Black Hat.

The Purchaser may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over the common shares or other securities of Black Hat, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

The Purchaser has agreed to purchase the 400,000 common shares of Black Hat for investment purposes; however, they have not entered into any contractual arrangement with respect to the voting, control or direction of any shares of Black Hat.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • Black Hat Capital Inc.
    Mark P. Brennan
    (416) 364-2266