Crude Holdings Acquisition, LLC

July 22, 2005 14:34 ET

Crude Holdings Acquisition, LLC: Press Release

MORRISTOWN, NEW JERSEY--(CCNMatthews - July 22, 2005) - Crude Holdings Acquisition, LLC, a Delaware limited liability company, reported that it had today disposed of ownership of 1,000,000 common shares (the "Shares") of World Point Terminals Inc. (WPO, Toronto Stock Exchange) for aggregate disposition proceeds of US$2,750,000 (US$2.75 per share). The Shares represent 4.74% of the issued and outstanding common shares of World Point Terminals Inc. based on the number of issued and outstanding shares reported by World Point in its report for the quarter ended March 31, 2005. Crude Holdings Acquisition, LLC now owns 5,782,290 common shares, representing 27.44% of the issued and outstanding common shares of World Point as reported by World Point as at March 31, 2005. The transaction was completed pursuant to agreements between Crude Holdings Acquisition, LLC and the purchasers and was not transacted through or on any public market or exchange. The agreements pursuant to which the Shares were sold provided for a cash payment in full for the Shares at the closing.

A copy of the early warning report of Crude Holdings Acquisition, LLC may be obtained from Ted Walsh at WR Capital Partners, LLC by contacting him at (973) 290-2300.

Contact Information

  • WR Capital Partners, LLC
    (973) 290-2300