Edda Resources Inc.

May 05, 2008 11:14 ET

Edda Resources Inc. Closes $10,000 Private Placement

TORONTO, ONTARIO--(Marketwire - May 5, 2008) - Edda Resources Inc. ("Edda" or the "Company") wishes to announce that it has closed a $10,000 private placement on May 2, 2008. The Company placed 200,000 units priced at $0.05 per Unit (the "Units") with each Unit comprised of one (1) common share and one (1) share purchase warrant. Each share purchase warrant ("Warrant") entitles the holder to acquire one (1) common share of the Company at $0.10 until May 2, 2010.

As a result of the private placement, Ms. Patrica Pieterse van Oostveen in concert with Global Investments CV, a company owned and/or controlled by the spouse of Ms. Pieterse van Oostveen, holds directly or indirectly or has control and direction over 485,000 common shares representing 9.29% of outstanding capital and 200,000 Warrants after giving effect to the private placement. If Ms. Pieterse van Oostveen were to exercise all of her warrants, she would hold 685,000 common shares directly and indirectly out of a partially diluted capital of 5,421,769 common shares (after giving effect to the exercise of her 200,000 Warrants) representing 12.63% of outstanding capital.

Ms. Pieterse van Oostveen advised that the Common Shares were acquired for investment purposes and that she has no present intention to either increase or decrease her holdings in Edda. Notwithstanding the foregoing, Ms. Pieterse van Oostveen has advised that she may increase or decrease her beneficial ownership, control or direction over common shares of Edda through market transactions, private agreements, exercise of warrants, other treasury issuances or otherwise.

Contact Information

  • Edda Resources Inc.
    Mr. William R. Johnstone
    Secretary-Treasurer and Director
    (416) 865-6605