Eric Owens

February 14, 2013 16:53 ET

Eric Owens Completes Acquisition of Folkstone Shares

TORONTO, ONTARIO--(Marketwire - Feb. 14, 2013) - Eric Owens announces that he has acquired 666,667 common shares of Folkstone Capital Corp. (the "Company") at a price of $0.075 per share (or $50,000.02 in the aggregate) pursuant to a share purchase agreement (the "Share Purchase Agreement") dated as of December 27, 2012. The transaction, which closed effective February 12, 2013, was made in connection with a change in the board membership of the Company. Pursuant to the Share Purchase Agreement, the former directors and officers of the Company resigned and three new directors, namely Eric Owens, Mario Miranda and Eddy Canova have been appointed to the board. Mr. Owens and Mr. Miranda will serve as Chief Executive Officer and Chief Financial Officer of the Company, respectively. The said 666,667 shares represent approximately 16.06% of the issued and outstanding shares of the Company. Mr. Owens held no securities of the Company prior to the acquisition discussed above.

Reference is made to the Company's press release dated February 13, 2013 with respect to such closing.

Mr. Owens may in the future increase or decrease his ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.

Mr. Owens is Chief Executive Officer and a director of the Company. Mr. Owens' address is 298 Waverley Road, Toronto, ON M4L 3T6.

An Early Warning Report in respect of the foregoing will be filed and available under the profile of the Company at www.sedar.com.

Contact Information

  • Folkstone Capital Corp.
    Mario Miranda
    Chief Financial Officer
    905.467.5564