Donald G. Campbell

George P. Bowley

June 15, 2005 18:20 ET

Colonia Corporation: News Release

CALGARY, ALBERTA--(CCNMatthews - June 15, 2005) -

(Not for dissemination in the United States of America)

Donald G. Campbell and George P. Bowley (collectively, the "Purchasers") announce they have completed their previously announced acquisition of an aggregate of 5,000,000 common shares in the capital of Colonia Corporation (NEX BOARD:CRP.H) ("Colonia"), from two vendors in a private transaction (the "Acquisition").

After completion of the Acquisition and the private placement of 5,833,333 units that closed concurrently, the Purchasers, collectively, own or control, directly or indirectly, an aggregate of 10,833,333 common shares of Colonia, representing 46% of the issued and outstanding common shares of Colonia. The Purchasers also hold 5,833,333 warrants and 886,833 stock options.

Other than the warrants disclosed above, the Purchasers (together with their spouses) do not currently own, nor do they currently have any rights to acquire, any other securities of Colonia. However, they may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over the common shares or other securities of Colonia, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

The Purchasers have not entered into any contractual arrangement with respect to the voting, control or direction of any shares of Colonia.

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

Contact Information

  • Colonia Corporation
    Donald G. Campbell
    (403) 540-2003