Hammerstone Corporation

April 07, 2011 15:51 ET

Hammerstone Corp. Acquires Votiing Rights On Whitemud Resources Debentures

CALGARY, ALBERTA--(Marketwire - April 7, 2011) - Hammerstone Corporation ("Hammerstone") announced today that, pursuant to certain agreements ("Agreements"), it has indirectly acquired voting rights in respect of $3,800,000 principal amount of convertible debentures ("Debentures") of Whitemud Resources Inc. ("Corporation"), which Debentures are convertible into an aggregate of 4,175,824 common shares ("Common Shares") of the Corporation. Accordingly, Hammerstone has acquired and currently has control or direction over convertible securities of the Corporation which, upon any such conversion, would represent approximately 18.8% of the issued and outstanding Common Shares.

Pursuant to the Agreements, Hammerstone indirectly has the right and intends to acquire the Debentures upon satisfaction of certain conditions under the Agreements. Hammerstone acquired the rights for investment purposes and intends to review, on a continuous basis, various factors related to its investment, subsequent developments affecting the Corporation or its business, and general market and economic conditions. Based upon these and other factors, Hammerstone may decide to acquire additional rights or acquire securities of the Corporation in the future.

For a copy of the early warning report to be filed in respect of the above transaction, please refer to the SEDAR profile of the Corporation or contact:
 
Terry Owen
Hammerstone Corporation
2681 Hochwald Court SW
Calgary, AB, T3E 7M3
Tel: (403) 297-1679

Contact Information

  • Hammerstone Corporation
    Terry Owen
    (403) 297-1679