Mr. Salvatore Fuda

October 11, 2006 18:20 ET

Salvatore Fuda and Other Entities Acquire Common Shares of Ontex Resources Limited

TORONTO, ONTARIO--(CCNMatthews - Oct. 11, 2006) - Mr. Salvatore Fuda, Chairman of Ontex Resources Limited (TSX:ONT), and entities deemed to be acting jointly and in concert with him have acquired 2,310,568 common shares of Ontex representing approximately 3.5% of the outstanding common shares of Ontex. Each common share was purchased at a subscription price of $0.10 pursuant to Ontex's rights offering. Ontex has 66,887,527 common shares issued and outstanding. Following the purchases of common shares pursuant to the rights offering, Mr. Fuda and entities deemed to be acting jointly and in concert with him have ownership and control over 11,238,605 common shares of Ontex representing 16.8% of the outstanding common shares of Ontex.

Contact Information

  • Mr. Salvatore Fuda
    (416) 360-4031
    777 Bay Street, Suite 1910
    Toronto, Ontario
    M5G 2E4