SEATTLE, WA, April 30 /CNW/ - Columbia Pacific Advisors, LLC ("Columbia Pacific") announces that it has acquired control of a total of 780,900 common shares ("Common Shares") of TeraGo Inc. (TSX: TGO), which represents approximately 10.36% of the issued and outstanding Common Shares as at the date hereof.
On March 24, 2010, Columbia Pacific purchased 5,000 Common Shares, which purchase brought the total number of Common Shares over which it exercised control to 757,400, representing approximately 10.05% of the issued and outstanding Common Shares as at such date. Thereafter, Columbia Pacific purchased an additional 10,400 Common Shares during the month of March 2010 and purchased (net of sales) an additional 13,100 Common Shares during the month of April 2010, resulting in a total of 780,900 Common Shares being controlled by Columbia Pacific as at April 30, 2010. The volume weighted average price of all Common Share purchases was $5.16. The volume weighted average price of all Common Share sales was $5.00. All trades were made through the facilities of the Toronto Stock Exchange.
All Common Shares controlled by Columbia Pacific are held by Columbia Pacific Opportunity Fund, L.P., a limited partnership formed under the laws of the State of Washington, for which Columbia Pacific is the general partner and controls all investment decisions. Columbia Pacific is registered to provide portfolio management services in respect of securities under the Investment Advisers Act 1940 of the United States of America.
The Common Shares were purchased for investment purposes. Columbia Pacific may acquire additional Common Shares in the future, subject to price and market conditions, but, as of the date hereof, it has no intention of acquiring such number of Common Shares (or securities convertible into Common Shares) as would result in it controlling or owning (or being deemed to own) at least 20% of the issued and outstanding Common Shares or of any other class of outstanding voting or equity securities of TeraGo Inc.
SOURCE COLUMBIA PACIFIC ADVISORS, LLC
For further information: For further information: Paul Parietti, Chief Compliance Officer, Columbia Pacific Advisors, LLC, 1910 Fairview Avenue East, Suite 500, Seattle, Washington, 98102-3698, Tel: (206) 728-9063