Cavendish Investing Ltd.

December 29, 2010 17:13 ET

Cavendish Investing Ltd.: Acquisition of Common Shares of Pacific Iron Ore Corporation

CALGARY, ALBERTA--(Marketwire - Dec. 29, 2010) - Pursuant to the disclosure requirements of applicable securities laws, R.A.N. Bonnycastle ("Bonnycastle") reports that he indirectly acquired ownership of a total of 263,160 Flow Through shares ("Flow Through Shares") in the capital of Pacific Iron Ore Corporation (the "Corporation"). The Corporation issued the Common Shares from treasury to R. A. N. Bonnycastle at a price of Cdn $0.38 per flow through share.

Mr. Bonnycastle now beneficially owns, controls or has direction over, directly or indirectly, an aggregate of 30,645,891 Common Shares, representing 45.48% of the Corporation's outstanding Common Shares. Mr. Bonnycastle acquired the Flow Through Shares pursuant to the Private Placement for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over Common Shares, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. Mr. Bonnycastle is a director and Chairman of the Board of the Corporation. A copy of the related early warning report will be filed on the SEDAR website (www.sedar.com) or may be obtained directly by calling Ms. Carlyn Dahl at (403) 269-6795.

Contact Information

  • Cavendish Investing Ltd.
    Mr. Richard A.N. Bonnycastle
    (403) 269-6795
    or
    Cavendish Investing Ltd.
    4615 Canterra Tower, 400 - 3rd Avenue S.W.
    Calgary, AB T2P 4H2