Geosam Capital Inc. announces additional investment in WGI Heavy Minerals, Incorporated

TORONTO, Sept. 2, 2011 /CNW/ - On September 2, 2011, Geosam Capital Inc. ("Geosam") acquired 1,000,000 shares of WGI Heavy Minerals, Incorporated ("WGI") at a cost of $0.50 per share, representing approximately 4.2% of the outstanding shares of WGI, bringing Geosam's total holdings in WGI to 3,353,000 shares representing approximately 14.1% of the outstanding shares of WGI.

The WGI shares held by Geosam, George Armoyan, the President of Geosam, and members of his immediate family with whom he resides, total 5,336,000 shares, representing approximately 22.5% of the total outstanding shares of WGI.

Geosam purchased the shares through the facilities of the Toronto Stock Exchange for investment purposes. Geosam may, from time to time, acquire additional shares or other securities of WGI, dispose of some or all of the existing or additional shares or other securities of WGI, or continue to hold shares or other securities of WGI in the normal course of Geosam's investment activities.

In purchasing the 1,000,000 shares referred to above, Geosam relied on the private agreement exemption from the formal take-over bid rules set out in Section 100.1(1) of the Securities Act (Ontario). Geosam was entitled to rely on this exemption because (i) the purchase of the 1,000,000 shares was not made from more than five persons, (ii) the offer to purchase was not made generally to all holders of WGI's shares, and (iii) the value of the consideration paid for the 1,000,000 shares, including brokerage fees or commissions, was not greater than 115% of the market price of WGI's shares on the Toronto Stock Exchange on September 2, 2011 as determined in accordance with Section 1.3 of Ontario Securities Commission Rule 62-504 - Takeover Bids and Issuer Bids.

The issuance of this news release does not constitute an admission by Geosam that it is acting jointly or in concert with Mr. Armoyan and members of his immediate family with whom he resides with respect to shares of WGI.

SOURCE Geosam Capital Inc.

For further information:

Michael Rapps
Managing Director
Geosam Capital Inc.
TD Canada Trust Tower
161 Bay Street, Suite 2400
P.O. Box 217, Toronto, ON, M5J 2S1
t: (416) 855-1925
f: (416) 640-1834

Profil de l'entreprise

Geosam Capital Inc.

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