Double Black Diamond, L.P.

March 31, 2015 16:22 ET

Double Black Diamond, L.P. Acquires Shares of BRS Resources Ltd.

DALLAS, TEXAS--(Marketwired - March 31, 2015) - This press release is being disseminated by Double Black Diamond, L.P. ("Black Diamond"), as required by National Instrument 62-103 of the Canadian Securities Administrators in connection with the filing of an early warning report regarding an acquisition by Black Diamond of common shares ("Shares") of BRS Resources Ltd. ("BRS").

Black Diamond has acquired ownership of 69,154,170 Shares, representing approximately 56.7% of the issued and outstanding Shares (the "Transaction"). Black Diamond and its affiliates and joint actors own 89,154,170 Shares in the aggregate, representing approximately 73.1% of the issued and outstanding Shares.

The Transaction was completed pursuant to a debt settlement agreement dated March 26, 2015 under which BRS' indebtedness to Black Diamond in the amount of $2,420,395.95 was settled in consideration of the issuance of 69,154,170 Shares, implying a per Share price of $0.035.

Black Diamond does not have any present intention of increasing its beneficial ownership, control or direction over securities of BRS but reserves the right, depending on circumstances, including market conditions, to make further purchases or disposals of the Shares or securities convertible or exchangeable into Shares in the future.

Contact Information

  • Carlson Capital, L.P.
    Shahla Ali, Chief Compliance Officer
    2100 McKinney Avenue, Suite 1800
    Dallas, Texas 75201
    (214) 932-9601 (FAX)
    Telephone: (214) 932-9600