/Not for distribution to U.S. newswire services or for dissemination in
the United States./
ST. HELIER, Jersey, April 8 /CNW/ - Further to disclosure requirements
of applicable securities laws, Duration Gold Limited ("Duration"), a
company controlled by Clarity Enterprises Limited ("CEL"), announces
that it has acquired 45,000,000 common shares ("Whetstone Shares") of
Whetstone Minerals Ltd. ("Whetstone") at a deemed issued price of U.S.
$0.10 per Whetstone Share as consideration for the sale to Whetstone of
the issued and outstanding class A share of DGL Investments Number Four
Mauritius ("DGL") owned by Duration pursuant to a share purchase
agreement with Whetstone. The 45,000,000 Whetstone Shares owned by
Duration, being the only Whetstone Shares owned by Duration, represent
approximately 37.1% of the outstanding Whetstone Shares.
Duration is controlled by CEL which owns a majority of the outstanding
shares of Duration. Following completion of the acquisition of the
45,000,000 Whetstone Shares by Duration, CEL owned and controlled
57,910,449 Whetstone Shares, representing approximately 47.7% of the
outstanding Whetstone Shares, based on there being 121,309,175
Whetstone Shares issued and outstanding.
Duration acquired the 45,000,000 Whetstone Shares for investment
purposes. Duration may in the future take such actions in respect of
its holdings as it may deem appropriate in light of the circumstances
then existing, including the purchase of additional common shares or
other securities of Whetstone through open market purchases or
privately negotiated transactions, or the sale of all or a portion of
its holdings in the open market or in privately negotiated transactions
to one or more purchasers.
A copy of Duration's related early warning report filed with the
applicable securities commissions and further information may be
obtained by contacting Peter J. Band, a representative of Pinnacle
Trustees Limited, at: Telephone: +44 1534 280111 and Facsimile: +44
SOURCE Duration Gold Limited
For further information:
A copy of CEL's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Peter J. Band, a representative of Pinnacle Trustees Limited, Administrator of CEL at: Telephone: +44 1534 280111 and Facsimile: +44 1534 280099.