CALGARY, Jan. 11, 2012 /CNW/ - This announcement relates to the holdings
of David E. Mullen ("Mr. Mullen") in Golconda Resources Ltd. (TSXV: GA) ("Golconda").
On January 11, 2012, Mr. Mullen acquired control or direction over
19,603,080 common shares ("Common Shares") of Golconda pursuant to a shares for debt private placement at a
deemed price of $0.05 per Common Share. Prior to such acquisition, Mr.
Mullen, personally and through his wholly-owned holding company Lyncorp
International Ltd. ("Lyncorp"), owned and controlled an aggregate of 45,156,667 Common Shares
representing approximately 44.48% of the outstanding Common Shares of
Golconda. Immediately after the acquisition, Mr. Mullen and Lyncorp
have ownership or control of an aggregate of 64,759,747 Common Shares
representing approximately 48.50% of the issued and outstanding Common
Shares of Golconda.
Mr. Mullen and Lyncorp acquired the Common Shares for investment
purposes and Mr. Mullen and Lyncorp may, depending on market and other
conditions, increase or decrease his or its beneficial ownership,
control or direction over the Common Shares or other securities of
Golconda, through market transactions, private agreements, treasury
issuances, exercise of convertible securities or otherwise.
Mr. Mullen will be filing a report under National Instrument 62-103 - The Early Warning System of the Canadian Securities Administrators in connection with the shares
for debt private placement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE David E. Mullen
For further information:
For further information and to obtain a copy of such report please contact Mr. Mullen, 75 Suncanyon Park S.W., Calgary, Alberta T2X 1P4, Telephone No.: (403) 260-2067.