CHARLESTOWN, NEVIS--(Marketwire - Sept. 7, 2012) - GALT Holdings Group Inc. ("GALT") is pleased to announce that is has acquired (the "Acquisition") an aggregate of 25,000,000 common shares ("PetroNova Shares") in the capital of PetroNova Inc. ("PetroNova") pursuant to various private agreements entered into between GALT and certain shareholders of PetroNova.
As a result of the Acquisition, GALT holds 25,000,000 PetroNova Shares representing approximately 15.1% of the total issued and outstanding PetroNova Shares.
GALT has acquired the above-noted PetroNova Shares for investment purposes and GALT may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over the PetroNova Shares or other securities of PetroNova, through market transactions, private agreements, treasury issuances or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be filed on SEDAR under PetroNova's company profile at www. sedar.com.