Michael Pasternack

October 01, 2014 17:18 ET

Michael Pasternack Acquires Control Over Additional Northeastern Group Common Shares

TORONTO, ONTARIO--(Marketwired - Oct. 1, 2014) - Michael Pasternack announced that, pursuant to a private agreement with Cardon Equities Inc., he has acquired ownership and control of an additional 4,995,975 common shares of Northeastern Group Inc.

Combined with the common shares previously owned and controlled, Michael Pasternack now owns a total of 5,995,975 common shares, representing approximately 22.8% of the total issued common shares of Northeastern Group.

Michael Pasternack acquired the securities of Northeastern Group Inc. for investment purposes. He will continue to review its investment alternatives and may acquire additional common shares, or may, subject to market conditions, applicable securities laws and other relevant factors, sell common shares in the open market or in privately negotiated transactions to one or more persons.

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