Ernesto Echavarria

October 31, 2011 14:32 ET

Ernesto Echavarria Increases his Position in Animas Resources

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2011) - Ernesto Echavarria (the "Offeror") announces that on October 26, 2011, he acquired ownership and control of 6,000,000 units (each, a "Unit") of Animas Resources Ltd. (the "Company") at a price of $0.20 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one common share of the Company at an exercise price of $0.30 per common share until October 26, 2013.

The 6,000,000 common shares and 6,000,000 Warrants acquired by the Offeror represent approximately 10.1% (basic) and 18.4% (partially diluted, assuming exercise of the Warrants) of the issued and outstanding common shares of the Company.

Immediately following the transaction noted above, the Offeror owned 16,385,263 common shares of the Company and 8,384,381 warrants, representing approximately 27.7% (basic) and 36.7% (partially diluted, assuming exercise of all Offeror's warrants) of the issued and outstanding common shares of the Company.

The Offeror may make additional investment in or dispositions of securities of the Company for investment purposes, depending on price, availability and general market conditions.

A copy of the report filed by the Offeror in connection with this acquisition is available on the SEDAR website at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Winnie Wong
    604-687-6197