Groundstar Resources Limited

Groundstar Resources Limited

June 29, 2015 11:44 ET

Groundstar Director Acquires Additional Common Shares

CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Dale Hammons, a director of Groundstar, announces that between February 6, 2015 and June 18, 2015, he has acquired 1,868,000 common shares of Groundstar ("Groundstar Shares") through open market purchases through the TSX Venture Exchange at prices ranging from $0.035 to $0.06 per Groundstar Share. Following these purchases, Mr. Hammons currently owns approximately 17.01% of the issued and outstanding Groundstar Shares, on a fully diluted basis. Mr. Hammons now has direct ownership over 5,107,778 Groundstar Shares or approximately 16.30% of the issued and outstanding Groundstar Shares on an undiluted basis. In addition, Mr. Hammons directly owns 138,889 share purchase warrants ("Warrants") and 130,000 stock options ("Options"), which, on a fully diluted basis, would give Mr. Hammons' ownership of an aggregate of 5,376,667 Groundstar Shares or 17.01% of the issued and outstanding Groundstar Shares. Each Warrant is exercisable until June 27, 2015 at $0.30 per Groundstar Share and each Option is exercisable at $0.20 per Groundstar Share until August 18, 2019.

Mr. Hammons has acquired the Groundstar Shares for investment purposes and from time to time, Mr. Hammons may acquire additional securities of Groundstar, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

An early warning report is being filed concurrently with this news release under Groundstar's SEDAR profile at www.sedar.com and a copy of the report may be obtained from SEDAR or by contacting Mr. Hammons at 780-826-0920.

Contact Information

  • Groundstar
    Mr. Dale Hammons
    Director
    Box 5572
    Bonnyville, AB T9N 2G6
    780-826-0920