TORONTO, ONTARIO--(Marketwire - May 24, 2012) - Mr. John Pollock of Suite 902, 33 Delisle Avenue, Toronto, Ontario, announces that he has transferred ownership of 1,000,000 common shares of Newstrike Resources Ltd. ("Newstrike" or the "Company") to an immediate family member in a private transaction for personal planning purposes. These holding represent approximately 4.7% of the issued and outstanding common shares of Newstrike as of May 24, 2012. As a result of this transfer, Mr. Pollock together with his joint actors own and control an aggregate of 4,761,500 common shares of Newstrike, and convertible securities entitling them to acquire an additional 875,000 common shares of the Company, representing approximately 22.2% of the issued and outstanding common shares of the Company as at May 24, 2012 (or approximately 25.2% calculated on a partially diluted basis, assuming the exercise of the above-noted convertible securities only). Of this total, Mr. Pollock owns directly an aggregate of 3,839,000 common shares of Newstrike and 600,000 convertible securities of the Company, representing approximately 17.9% of the issued and outstanding common shares of the Company as at May 24, 2012 (or approximately 20.1% calculated on a partially diluted basis, assuming the exercise of the convertible securities held directly by Mr. Pollock only).
This transaction was effected for personal planning purposes and Mr. Pollock could increase or decrease his investments in Newstrike at any time, or continue to maintain his current investment position, depending on market conditions or any other relevant factor. The transfer was effected pursuant to the exemption contained in Section 2.8 of National Instrument 45-102.
Additional Information
Additional information regarding Newstrike is available on Newstrike's website at www.newstrikeresources.com and on www.sedar.com. A copy of the applicable securities report filed in connection with the matters set forth above may be obtained through Newstrike's offices.
Neither the TSX Venture Exchange nor its Regulation Services 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:
Donald Rankin, Director
(416) 628-6556
(416) 628-5911 (FAX)
360 Bay Street, Suite 500
Toronto, Ontario, M5H 2V6