Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

October 11, 2011 09:00 ET

Humboldt Capital Corporation Announces Acquisition of Additional Common Shares of Paris Energy Inc.

CALGARY, ALBERTA--(Marketwire - Oct. 11, 2011) - Humboldt Capital Corporation (TSX VENTURE:HMB) announces that it has acquired an additional 5,500,000 common shares ( the "Acquired Shares") of Paris Energy Inc. ("Paris") pursuant to the exercise of the conversion right of a $330,000 principal amount convertible secured debenture of Paris due on October 7, 2011 (the "Debenture"). The Acquired Shares were issued at a deemed issue price of $0.06 per share in accordance with the conversion right under the terms of the Debenture. The Acquired Shares represent approximately 31% of the outstanding common shares ("Common Shares") of Paris. Prior to the issuance of the Acquisition Shares, Humboldt held 3,048,541 Common Shares (approximately 25% of the issued and outstanding Common Shares prior to the issuance of the Acquired Shares). Following the issuance of the Acquired Shares, Humboldt holds 8,548,541 Common Shares representing approximately 48% of the outstanding Common Shares.

Robert W. Lamond and Lamond Investments Ltd. ("Investments") may be considered to be acting jointly and in concert with Humboldt as Mr. Lamond owns 100% of outstanding shares of Investments and Mr Lamond and Investments together own 71% of the outstanding shares of Humboldt. Prior to the issuance of the Acquired Shares, Mr Lamond and Investments held 1,557,284 Common Shares (approximately 13% of the issued and outstanding Common Shares). Following the issuance of the Acquired Shares Mr. Lamond, Investments and Humboldt collectively hold, directly and indirectly, an aggregate of 10,107,735 Common Shares, or an aggregate of 57% of the issued and outstanding Common Shares.

Humboldt acquired the Acquired Shares for investment purposes. Humboldt, Investments or Mr. Lamond may, from time to time, as market opportunities exist or develop, increase or decrease their beneficial ownership of the Common Shares as permitted by applicable securities laws.

A copy of Humboldt's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Charles A. Teare, Executive Vice President and Chief Financial Officer of Humboldt at (403) 269-9889 or by mail at 1800, 633 – 6th Avenue S.W. Calgary, Alberta T2P 2Y5.

Forward-looking statements – the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward- looking information is contained in the press release.

Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural gas volumes have been converted to barrels of oil at six thousand cubic feet (mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in isolation. A boe conversion of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References to oil in this discussion include crude oil and natural gas liquids (NGLs).

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Neither the TSX Venture Exchange nor its Regulation Service 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

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)

    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)