Guardian Exploration Inc.
TSX VENTURE : GX

Guardian Exploration Inc.

June 17, 2011 19:22 ET

Graydon Kowal Acquires Additional Position in Guardian Exploration Inc.

CALGARY, ALBERTA--(Marketwire - June 17, 2011) - Graydon Kowal ("Kowal") issues this press release pursuant to Part 3 – Early Warning Requirements of National Instrument 62-103 with respect to Guardian Exploration Inc. (TSX VENTURE:GX) (the "Issuer" or "Guardian").

On June 15, 2011, Graydon Kowal, President, CEO and a director of Guardian, acquired, through the Issuer's flow through private placement unit financing (the "Financing") announced on May 17, 2011, 3,500,000 units at a price of $0.10 per unit, each unit consisting of one common share of Guardian to be issued on a "flow through" tax basis ("Common Shares") and one purchase warrant, each whole warrant exercisable into one Common Share upon payment of $0.15 per share for a period of 24 months from the date of issuance ("Purchase Warrants").

The Common Shares acquired by Mr. Kowal represent approximately 4.7% of the issued and outstanding Common Shares of Guardian post closing of the Financing. Prior to this transaction, Mr. Kowal held an aggregate of 8,828,853 Common Shares (13.33% of the outstanding Common Shares of Guardian) and options to purchases an additional 700,000 Common Shares upon exercise of options (the "Options") in the capital of Guardian, representing approximately 14.39% on a partially diluted basis assuming the exercise of the Options.

Following this transaction, Mr. Kowal will hold an aggregate of 12,328,853 Common Shares (16.55% of the outstanding Common Shares of Guardian), Options to purchase an additional 700,000 Common Shares of Guardian and Purchase Warrants to purchase an additional 3,500,000 Common Shares of Guardian. If Mr. Kowal was to exercise all of the Options and Purchase Warrants, it would represent a total of 16,528,853, or approximately 21.01% of the issued and outstanding capital of Guardian calculated on a partially diluted basis assuming the exercise of the Options and Purchase Warrants.

These securities were acquired for investment purposes only. Depending on economic or market conditions or matters relating to Guardian, Mr. Kowal may choose to either acquire additional securities or dispose of securities of Guardian.

Graydon Kowal is the President, CEO and a director of Guardian.

Neither 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

  • Guardian Exploration Inc.
    Graydon Kowal
    President and CEO
    (403) 269-5870