Dale Hammons

February 05, 2015 12:19 ET

Groundstar Director Becomes Significant Shareholder

CALGARY, ALBERTA--(Marketwired - Feb. 5, 2015) - Dale Hammons, a director of Groundstar, announces that he has become a significant shareholder in Groundstar Resources Limited ("Groundstar") which trades on the TSX Venture Exchange (the "TSXV") under the symbol "GSA", through open market purchases through the TSXV between February 2 and 4, 2015 of an aggregate of 250,0000 common shares of Groundstar ("Groundstar Shares") at an average price of $0.05 per Groundstar Share. Following these purchases, Mr. Hammons currently owns 10.51% of the issued and outstanding Groundstar Shares, on a fully diluted basis. Mr. Hammons now has direct ownership over 3,117,778 Groundstar Shares or approximately 9.76% of the issued and outstanding Groundstar Shares. 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 3,386,667 Groundstar Shares or 10.51% 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

  • Mr. Dale Hammons
    Box 5572
    Bonnyville, AB T9N 2G6