Global SeaFarms Corporation

June 21, 2013 16:01 ET

Global SeaFarms Corporation: Early Warning Report

MONTREAL, QUEBEC--(Marketwired - June 21, 2013) - Global SeaFarms Corporation.

This news release is disseminated pursuant to National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the holdings of Palos Merchant Fund L.P. ("Palos") of Class A Shares, convertible debentures and warrants convertible into Class A Shares in the capital of Global SeaFarms Corporation ("GSF"). Palos advises that it holds directly 11,022,144 common shares of GSF, debentures convertible into 5,035,237 Class A Shares of GSF, and 3,401,666 warrants convertible into Class A Common Shares of GSF, representing 18.31% of GSF's issued and outstanding voting shares on a partially diluted basis. Previously, Palos held common shares and securities convertible into common shares representing 13.84% of GSF's issued and outstanding voting shares on a partially diluted basis. The additional shares were acquired through a private placement of shares of GSF.

The position in GSF was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

A copy of the Early Warning Report may be found on www.SEDAR.com.

On behalf of Palos Merchant Fund L.P.
1812-1 Place Ville Marie
Montreal, Quebec H3B 4A9
Tel: (514) 397-0188 x. 287

Noah Billick, Vice-President, Legal Affairs of Palos Management Inc., sole general partner of Palos Merchant Fund L.P.

Contact Information

  • Noah Billick
    (514) 397-0188 x. 287