Lumina Capital Limited Partnership

December 21, 2010 16:49 ET

Lumina Capital Limited Partnership: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2010) - Lumina Capital Limited Partnership ("Lumina"), of 410 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on December 20, 2010, Lumina acquired ownership and control of 4,285,714 flow-through common shares (each, a "Flow-Through Share") of Kivalliq Energy Corporation ("Kivalliq") as part of a non-brokered private placement for aggregate consideration of $3,000,000, or $0.70 per Flow-Through Share. As a result of this acquisition, Lumina owns a total of 21,285,714 common shares representing approximately 21.95% of the total number of common shares currently issued and outstanding.

Immediately following the December 20, 2010 acquisition of 4,285,714 Flow-Through Shares of Kivalliq, Lumina exercised ownership and control over a total of 21,285,714 common shares of Kivalliq and common share purchase warrants exercisable to purchase 7,250,000 common shares of Kivalliq, which, in the aggregate assuming Lumina's common share purchase warrants are exercised, represents approximately 27.38% of the 104,221,226 then issued and outstanding common shares of Kivalliq, assuming no other convertible securities are exercised.

Lumina's acquisition was made for investment purposes. Lumina may, in the future, acquire ownership and control over additional securities of Kivalliq for investment purposes.

Other than as described above, Lumina is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Kivalliq.

Lumina does not own or control any securities of Kivalliq with, nor is Lumina a joint actor with, another entity.

Contact Information

  • Lumina Capital Limited Partnership
    Robert Pirooz
    (604) 684-1175
    (604) 684-0147 (FAX)