The Estate of Robert N. Ohlson

June 17, 2005 09:00 ET

The Estate of Robert N. Ohlson: News Release

CALGARY, ALBERTA--(CCNMatthews - June 17, 2005) - Mr. Sampson, Chairman of the Board, President and Chief Executive Officer of Niko Resources Ltd. ("Niko"), announces that he is the executor for the estate of Robert N. Ohlson (the "Ohlson Estate") under Mr. Ohlson's will (the "Ohlson Will"). Mr. Ohlson, who was the President of Niko, passed away on November 24, 2004. Mr. Sampson has, in his capacity as executor of the Ohlson Estate under the terms of the Ohlson Will, control over certain common shares of Niko ("Niko Shares") that were owned, directly or indirectly, by Mr. Ohlson, or over which Mr. Ohlson had control or direction, at the time of his passing. The number of Niko Shares that Mr. Sampson has control or direction over in that capacity is 3,073,030 (being 8% of the issued and outstanding common shares of Niko).

As a result of the above, and including the 3,073,030 Niko Shares referred to above, Mr. Sampson owns, directly or indirectly, or has control over, a total of 6,183,838 Niko Shares (being 16.1% of the issued and outstanding common shares of Niko). Mr. Sampson also personally holds options to purchase a total of 1,000,000 Niko Shares which have been granted to Mr. Sampson under Niko's stock option plans, under which 150,000 Niko Shares are exercisable at a price of $7.95, 700,000 Niko Shares are exercisable at a price of $22.20 and 150,000 Niko Shares are exercisable at a price of $45.20.

Mr. Samson will continue to control the 3,073,030 shares of Niko referred to above in his capacity as executor in accordance with the terms of the Ohlson Will until such time as the Niko Shares held or controlled by the Ohlson Estate are distributed or disposed of or Mr. Sampson's role as executor thereunder ceases. Mr. Sampson does not have any current intention of acquiring further securities of Niko in his capacity as executor of the Ohlson Estate.

In his personal capacity, Mr. Sampson may acquire from time to time Niko Shares for investment purposes depending on the circumstances (including market conditions and other factors). Such acquisition(s) of further Niko Shares could include the exercise of the options to acquire Niko Shares that he currently holds or that may be provided to him in the future in his capacity as an officer and director of Niko.

A copy of the report filed by Mr. Sampson in connection with the above (which can also be found on Niko's page at SEDAR at www.sedar.com) can be obtained by contacting Paul Wright at (403) 262-1020.

Contact Information

  • Edward S. Sampson
    Address Correspondence C/O Niko Resources Ltd.
    4600, 400 - 3rd Avenue SW
    Calgary, AB T2P 4H2
    or
    Paul Wright
    (403) 262-1020