Humboldt Capital Corporation Announces Acquisition of Additional Common Shares of Paris Energy Inc.
October 11 2011 - 8:00AM
Marketwired
Humboldt Capital Corporation (TSX VENTURE:HMB) announces that it
has acquired an additional 5,500,000 common shares ( the "Acquired
Shares") of Paris Energy Inc. ("Paris") pursuant to the exercise of
the conversion right of a $330,000 principal amount convertible
secured debenture of Paris due on October 7, 2011 (the
"Debenture"). The Acquired Shares were issued at a deemed issue
price of $0.06 per share in accordance with the conversion right
under the terms of the Debenture. The Acquired Shares represent
approximately 31% of the outstanding common shares ("Common
Shares") of Paris. Prior to the issuance of the Acquisition Shares,
Humboldt held 3,048,541 Common Shares (approximately 25% of the
issued and outstanding Common Shares prior to the issuance of the
Acquired Shares). Following the issuance of the Acquired Shares,
Humboldt holds 8,548,541 Common Shares representing approximately
48% of the outstanding Common Shares.
Robert W. Lamond and Lamond Investments Ltd. ("Investments") may
be considered to be acting jointly and in concert with Humboldt as
Mr. Lamond owns 100% of outstanding shares of Investments and Mr
Lamond and Investments together own 71% of the outstanding shares
of Humboldt. Prior to the issuance of the Acquired Shares, Mr
Lamond and Investments held 1,557,284 Common Shares (approximately
13% of the issued and outstanding Common Shares). Following the
issuance of the Acquired Shares Mr. Lamond, Investments and
Humboldt collectively hold, directly and indirectly, an aggregate
of 10,107,735 Common Shares, or an aggregate of 57% of the issued
and outstanding Common Shares.
Humboldt acquired the Acquired Shares for investment purposes.
Humboldt, Investments or Mr. Lamond may, from time to time, as
market opportunities exist or develop, increase or decrease their
beneficial ownership of the Common Shares as permitted by
applicable securities laws.
A copy of Humboldt's related early warning report filed with the
applicable securities commissions and further information may be
obtained by contacting Charles A. Teare, Executive Vice President
and Chief Financial Officer of Humboldt at (403) 269-9889 or by
mail at 1800, 633 - 6th Avenue S.W. Calgary, Alberta T2P 2Y5.
Forward-looking statements - the press release today contains
"forward-looking" information. Actual results could differ
materially from the conclusions, forecasts or projections in the
forward-looking information. Certain material factors and
assumptions were applied in drawing the conclusions or making the
forecasts or projections as reflected in the forward-looking
information. Additional information about the material factors that
could cause actual results to differ materially from the
conclusion, forecast or projection in the forward-looking
information and the material factors or assumptions that were
applied in drawing the conclusion or making the forecast or
projection as reflected in the forward- looking information is
contained in the press release.
Where amounts are expressed on a barrel of oil equivalent (boe)
basis, natural gas volumes have been converted to barrels of oil at
six thousand cubic feet (mcf) per barrel (bbl). Boe figures may be
misleading, particularly if used in isolation. A boe conversion of
six thousand cubic feet per barrel is based on an energy
equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the wellhead.
References to oil in this discussion include crude oil and natural
gas liquids (NGLs).
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Humboldt Capital Corporation R.W. Lamond Chairman of
the Board (403) 269-9889 (403) 269-9890 (FAX) Humboldt Capital
Corporation C.A. (Tony) Teare Executive Vice President (403)
269-9889 (403) 269-9890 (FAX)
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