Dale Hammons

December 11, 2015 11:30 ET

Groundstar Director Acquires Additional Common Shares

CALGARY, ALBERTA--(Marketwired - Dec. 11, 2015) - Dale Hammons, a director of Groundstar, announces that between June 25, 2015 and December 4, 2015, he has acquired 426,000 common shares of Groundstar ("Groundstar Shares") through open market purchases through the TSX Venture Exchange at prices ranging from $0.0406 to $0.065 per Groundstar Share. Following these purchases, Mr. Hammons currently owns approximately 16.3% of the issued and outstanding Groundstar Shares, on a fully diluted basis. Mr. Hammons now has direct ownership over 5,638,778 Groundstar Shares or approximately 17.46% of the issued and outstanding Groundstar Shares on an undiluted basis. In addition, Mr. Hammons directly owns 330,000 stock options ("Options"), which, on a fully diluted basis, would give Mr. Hammons' ownership of an aggregate of 5,768,778 Groundstar Shares or 16.66% of the issued and outstanding Groundstar Shares. Of his outstanding Options, 130,000 are exercisable at $0.20 per Groundstar Share until August 18, 2019 and 200,000 Options are exercisable at $0.05 per Groundstar Share until July 16, 2020.

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

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