Pasquale DiCapo

November 08, 2010 15:11 ET

Pasquale DiCapo Acquires Securities of Terreno Resources Corp.

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) - Mr. Pasquale DiCapo ("DiCapo"), 130 King Street West, Suite 2500, Toronto, Ontario M5X 1A9 announces that, on November 2, 2010, he acquired ownership of 1,500,000 common shares of Terreno Resources Corp. ("Terreno") and 1,500,000 common share purchase warrants (the "Warrants") (each Warrant entitling the holder thereof to acquire one common share of Terreno at a price of $0.20 until November 1, 2012) which securities were acquired by DiCapo directly. These securities represent approximately 4.03% of the current issued and outstanding common shares of Terreno (the "Common Shares") (or approximately 7.75% on a partially diluted basis, assuming exercise of the Warrants only). In addition, on November 2, 2010, a joint actor of DiCapo acquired ownership and control of 1,992,666 broker warrants of Terreno (the "Broker Warrants") (each Broker Warrant entitling the holder thereof to acquire one Common Share and one common share purchase warrant at a price of $0.15, 473,00 of which until October 15, 2012 and 1,519,666 of which until November 1 2012, with each common share purchase warrant entitling the holder thereof to acquire an additional Common Share at a price of $0.20, 473,00 of which until October 15, 2012 and 1,519,666 of which until November 1 2012) (collectively, the "Joint Actor Securities"), which (i) represent approximately 9.68% of the current issued and outstanding Common Shares on a partially diluted basis, assuming exercise of the Joint Actor Securities only; and (ii) when taken together with the securities acquired by DiCapo, represent approximately 4.03% of the current issued and outstanding Common Shares (or approximately 16.37% on a partially diluted basis, assuming exercise of the Warrants and Joint Actor Securities only).

Immediately following the transaction noted above, DiCapo owned: (i) 1,769,900 Common Shares; and (ii) 1,500,000 common share purchase warrants (being the Warrants). Such securities represent approximately 4.76% of the current issued and outstanding Common Shares (or approximately 8.45% on a partially diluted basis, assuming exercise of the Warrants only). In addition, immediately following the transaction noted above, a joint actor of DiCapo owned 1,992,666 Broker Warrants, which Broker Warrants when fully exercised entitle the holder thereof to purchase 3,985,332 Common Shares (being the Joint Actor Securities). Such securities (i) represent approximately 9.68% of the current issued and outstanding Common Shares on a partially diluted basis, assuming exercise of the Broker Warrants only; and (ii) when taken together with the securities owned by DiCapo, represent approximately 4.76% of the current issued and outstanding Common Shares (or approximately 17% on a partially diluted basis, assuming exercise of the Warrants and Joint Actor Securities). 

DiCapo acquired the Common Shares and Warrants pursuant to a subscription agreement dated November1, 2010 between Terreno and the Offeror for an aggregate purchase price of $225,000 ($0.15 per one unit consisting of one Common Share and one Warrant). The acquisition was part of a larger private placement financing completed by Terreno for gross proceeds of approximately $3,500,000. The joint actor received the Broker Warrants for acting as agent for the financing.

These transactions were made for investment purposes and DiCapo and his joint actor may from time to time acquire additional securities of Terreno, dispose of some or all of the existing or additional securities of Terreno they hold or will hold, or may continue to hold their current positions depending on market conditions or any other relevant factor.

To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:
Shaun Drake
DSA Corporate Services Inc.
Tel: 416-848-0107
Fax: 416-848-0790
sdrake@dsacorp.ca
50 Richmond Street East,
Suite 101,
Toronto, ON M5C 1N7

Contact Information

  • DSA Corporate Services Inc.
    Shaun Drake
    416-848-0107
    416-848-0790 (FAX)
    sdrake@dsacorp.ca