Lightwater Partners, Ltd.

January 25, 2011 11:46 ET

Lightwater Partners, Ltd. Announces Holdings in Great Pacific International Inc.

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2011) - Lightwater Partners, Ltd. ("Lightwater"), announced today that it currently has control or direction over 4,650,000 common shares of Great Pacific International Inc. (the "Issuer") and has a securityholding percentage, calculated in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, of approximately 9.80%. 

Lightwater obtained control over common shares of the Issuer when it was appointed to act as portfolio manager for the frontierAlt Resource Capital Class Fund on August 1, 2010. Lightwater sold 1,600,000 of the shares at an average price of $0.126875 per share on January 20, 2011. Since Lightwater now controls less than 10% of the outstanding shares, it is no longer required to disclose changes in its holdings of Shares. 

The securities of the Issuer are held for investment purposes. Lightwater expects to review from time to time its investment in the Issuer and may, depending on the market and other conditions: (i) acquire securities or related financial instruments of the Issuer in the open market, in privately negotiated transactions or otherwise, and/or (ii) dispose of all or a portion of the securities or related financial instruments of the Issuer over which it now or hereafter exercises, or may be deemed to exercise, control or direction, or owns.

The issuance of this news release is not an admission that any entity named herein owns or controls any described securities or is a joint actor with another named entity.

Additional information is provided in the early warning report filed on www.sedar.com by Lightwater 

Contact Information

  • For further information or a copy of the early
    warning report please contact: Lightwater Partners, Ltd.
    Bryan Nunnelley, Partner & C.O.O.
    (416) 504-9767
    bnunnelley@lightwaterpartners.com