Small Ventures USA, LP

May 11, 2009 17:24 ET

Small Ventures USA, LP Announces Addiitional Purchases of Shares of Western Lithium Canada Corporation

HOUSTON, TEXAS--(Marketwire - May 11, 2009) - Small Ventures USA, L.P. ("Small Ventures") announced today that it has acquired an additional 1,000,000 common shares of Western Lithium Canada Corporation ("WLC"), through a private placement of shares to accredited investors, at CAD$0.50 per share (US$0.41 per share), which closed on May 6, 2009. Small Ventures also acquired 1,000,000 warrants for common shares of WLC. The warrants are exercisable into one common share of WLC at a price of CAD$0.60 for a period of 24 months ending May 6, 2011. The private placement shares have a four month hold period ending September 6, 2009.

Including the common shares of WLC that Small Ventures had previously acquired through the facilities of the Toronto Stock Exchange, Small Ventures now owns 6,122,198 common shares of WLC and 1,000,000 warrants for common shares of WLC, which represents approximately 11% of the issued and outstanding common shares of WLC as at May 7, 2009. The average cost per share acquired is US$0.44.

Small Ventures worked with Centaurus Energy Master Fund, L.P. ("CEMF") and Brian Terp, an employee of the investment manager of CEMF, in deciding to participate in WLC's private placement. CEMF also purchased 1,000,000 common shares and 1,000,000 warrants for common shares of WLC pursuant to the private placement, and now owns 1,721,500 common shares and 1,000,000 warrants for common shares of WLC. Mr. Terp had previously acquired 193,000 common shares of WLC. In total, Small Ventures, CEMF and Mr. Terp own approximately 16% of the issued and outstanding common shares of WLC as of May 7, 2009.

Small Ventures USA, LP

Small Ventures is a venture capital and private equity firm founded and managed by William O. Perkins III. Based in Houston, Texas Small Ventures deploys capital across multiple sectors and geographic regions on an opportunistic basis, with a bias toward early stage investment. In addition to funding, Small Ventures provides operational and financial-trading capabilities to its investment portfolio. Its principal office is located at 3050 Post Oak Boulevard, Suite 460, Houston, Texas 77056.

Centaurus Energy Master Fund, L.P.

CEMF is a private investment partnership based in Houston, Texas. Its principal office is located at 3050 Post Oak Boulevard, Suite 850, Houston, Texas 77056.

Contact Information

  • Small Ventures USA, L.P.
    Kayla Bruzzese
    (713) 341-7916
    or
    Centaurus Energy Master Fund, L.P.
    Jeff Brattain
    (832) 615-8650