VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 13, 2014) - G.R. Heffernan and Associates Limited ("GRHA") of #1700-22 St. Clair Ave. E., Toronto, Ontario M4T 2S3, announces, pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, that on February 12, 2014 it acquired ownership of 1,000,000 units (each, a "Unit") in the capital of Nikos Explorations Ltd. ("Nikos") pursuant to a non-brokered private placement, with each Unit consisting of one Share ("Share") and one warrant ("Warrants") entitling the holder thereof to purchase one additional Share of Nikos at a price of $0.10 for the period to February 12, 2016. The Units were issued from the treasury of Nikos.
The 1,000,000 Shares acquired by GRHA represent approximately 9.11% of the current total issued and outstanding Shares of Nikos. Assuming that only GRHA exercises the Warrants issued to it on the purchase of the Units, the 2,000,000 Shares that would then be owned by GRHA would represent approximately 16.7% of the total Shares of Nikos that would then be issued and outstanding.
Prior to the transaction described herein, GRHA did not own any Shares of Nikos. GHRA has filed an early warning report in respect of the purchase of the Units, a copy of which may be obtained by phoning Ms. Kim Thomas, 604-681-2802.