SOURCE: St James Capital Holdings, Inc.

June 21, 2005 11:27 ET

St James Capital Holdings, Inc. Announces Its Strategic Position in Great West Gold, Inc.

Company Acquires a US$1,500,000 Loan Note

NEW YORK, NY -- (MARKET WIRE) -- June 21, 2005 -- St James Capital Holdings, Inc. (OTC: SJCH) ("St James") announced today that it has acquired a Loan Note in the amount of US$1,500,000 due from Great West Gold, Inc. (OTC BB: GWGO).

St James, through its acquisition of the controlling interest of Hanover Capital Group plc ("Hanover"), a UK-based investment Company. Hanover owns an amount of 958,437,540 shares of Great West Gold Inc.'s Common Stock, representing 9.72% of that Company's outstanding shares. St James has indicated to Great West Gold, Inc. that it will increase its holding in that Company over a period of time but that it is not seeking a controlling interest in the Company and regards its shareholding as an investment. St James has not yet advised Great West Gold, Inc. as to its intentions in respect of its loan to the Company.

Stephen Lumb, the President of St James Capital Holdings, Inc. said today that he considered Great West Gold, Inc. to be significantly undervalued at this time and that he considered the acquisition of that Company's debt to be an important strategic move for St James's long-term intentions in respect of Great West Gold, Inc.

St James Capital Holdings Inc. controls the UK-based St James Resource Management Limited Group ("Resource Group") of Companies which operate primarily in the business of Structured and Corporate Finance and the advising of clients on capital raising, mergers, acquisitions, structuring / restructuring and on admission to equity markets in the United States. Resource Group invests on a short-term basis in these companies as well as providing short-term capital prior to their flotation on the USA equity markets. Resource Group places lines of stock in these client companies for cash, post their admission to USA equity markets. Resource Group also holds a portfolio of development Real Estate in the United States. Resource Group has a net asset value of in excess of US$160 million and posted earnings in excess of US$4 million in the last financial year. Resource Group has in excess of twenty new clients which are in the process of seeking admission to the USA equity markets at this time as well as a number of existing clients whose stocks are quoted on the OTC BB Market and on the OTC Pink Sheets Market.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

Contact Information

  • For further information contact:

    St James Capital Holdings, Inc.
    Email Contact