KARR Securities Inc.

October 27, 2011 17:34 ET

KARR Securities Inc. Announces Holdings of Karmin Exploration Inc.

POINT EDWARD, ONTARIO--(Marketwire - Oct. 27, 2011) - KARR Securities Inc. ("KARR") announced today that it has acquired ownership and control over 14,618,501 common shares of Karmin Exploration Inc. ("Karmin") listed on the TSX Venture Exchange ("TSX-V") under trading symbol, "KAR" (TSX VENTURE:KAR), pursuant to private and open market purchases on the TSX-V all of which are reported on www.sedi.ca and have occurred since KARR became an insider of Karmin on December 1, 2003. The last early warning report of KARR with respect to Karmin was filed on www.sedar.com on November 22, 2006.

The common shares held represent approximately 37.4% of the 39,091,091 outstanding common shares of Karmin.

KARR has purchased these shares for investment purposes. KARR has no present intention to increase its holdings in Karmin although it will evaluate the investment in Karmin and whether to increase or decrease its shareholdings in response to market conditions, the business and prospects of Karmin and other factors.

A copy of the early warning report to be filed in connection with this transaction may be obtained from Karmin Exploration Inc.

Contact Information

  • KARR Securities Inc.
    Robert Ciccarelli
    President and CEO