Goodwood Inc.

March 02, 2011 17:10 ET

Goodwood Announces Acquisition of Equity Interest in WebTech Wireless Inc.

TORONTO, ONTARIO--(Marketwire - March 2, 2011) - Goodwood Inc. ("Goodwood") announced that on March 1, 2011, certain investments funds managed by Goodwood acquired 10,000,000 common shares of WebTech Wireless Inc. ("WebTech") representing approximately 9.5% of the total issued common shares of WebTech. Combined with the WebTech shares previously held, Goodwood now has control over a total of 14,482,100 common shares, representing approximately 13.7% of the total issued common shares of WebTech.

The common shares were issued by WebTech at a purchase price of $0.40 per common share pursuant to a private placement transaction.

The common shares were acquired in the ordinary course of business for investment purposes. Depending on market and other conditions, Goodwood Inc. may, from time to time, increase or decrease its ownership, control or direction over the shares or other securities of WebTech, through market transactions, private agreements or otherwise.

Additional information is provided in the early warning report filed on www.sedar.com by Goodwood.

Goodwood Inc. (www.goodwoodfunds.com) was founded in 1996 with a value investment methodology that would be repeatable over time. Goodwood uses a bottom-up, value-oriented, active and often event-driven approach to investing with the objective to achieve above average performance by investing in companies below an estimate of their true, underlying worth.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • For further information or a copy of the early
    warning report, please contact:
    Goodwood Inc.
    Curt Cumming
    Partner, Chief Financial Officer
    416-203-2522