PM Holdings Ltd.

December 29, 2006 17:53 ET

PM Holdings Ltd.: Purchase of Shares of Washmax Corp.

TORONTO, ONTARIO--(CCNMatthews - Dec. 29, 2006) -

Pursuant to National Instrument 62-103 in compliance with applicable securities legislation in: British Columbia, Alberta, Ontario

PM Holdings Ltd. (the "Purchaser") announced today that it has purchased from Michael Churchill ("Churchill") through a private transaction 5,300,000 common shares (the "Purchased Shares") in the capital of Washmax Corp. (the "Corporation") representing 41.7% of the issued and outstanding common shares of the Corporation. The Purchaser acquired the common shares at a price of $0.03 per Purchased Share for an aggregate purchase price of $159,000.

The Purchaser has acquired the Purchased Shares for investment purposes. The Purchaser may purchase additional shares of the Corporation in the open market, by private agreement or otherwise subject to their availability at attractive prices, market conditions, applicable laws and other relevant factors.

The Purchaser intends to file a report describing the above transaction with applicable regulators, a copy of which shall be sent promptly to anyone who requests it from the persons noted below. The Purchaser's address is Hibiscus Square, P.O. Box 156, Grand Turk, Turks & Caicos Islands, British West Indies.

The information herein has not been approved or disapproved by regulatory authorities.

Contact Information

  • PM Holdings Ltd.
    Patrick Churchill
    (011) 377-9777-7068