Peter A. Braaten

August 25, 2006 15:14 ET

Peter A. Braaten Acquires Common Shares of Welton Energy Corporation "Welton"

TORONTO, ONTARIO--(CCNMatthews - Aug. 25, 2006) - Peter A. Braaten, the chairman of Welton Energy Corporation ("Welton"), has acquired, through a private placement of flow through shares, 869,565 common shares of Welton representing 2.2 % of Welton's outstanding common shares.

After this acquisition, Mr. Braaten owns, directly and indirectly, through Brompton Limited, Brompton Capital Corporation and Brompton Financial Limited, 7,993,275 common shares of Welton (approximately 20.02% of Welton's outstanding common shares) and Debentures convertible into an additional 2,247,095 common shares of Welton (approximately 21.93% of Welton's common shares assuming conversion of all Debentures).

This acquisition was made for investment purposes and, in the future, Mr. Braaten may acquire or dispose of common shares from time to time.

Please contact Kathryn Banner (416-642-6005) to obtain a copy of the report filed by Mr. Braaten pursuant to the Securities Acts of Ontario and Alberta.

Contact Information

  • Kathryn Banner
    416-642-6005