TORONTO, Aug. 30 /CNW/ - Libra Advisors, LLC ("Libra") announced today
that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds")
acquired 30,769,300 Units of Shear Minerals Ltd. ("Shear") at a price of
$0.065 per unit. Each unit is comprised of one common share and
one common share purchase warrant. Each warrant entitles the holder to
purchase one common share in the capital of Shear at a price of $0.075
for a period of 48 months following the date of issuance.
As a result of the acquisition, the Funds now hold 30,769,300 common
shares representing approximately 7.3% of the outstanding common shares
of Shear, and 30,769,300 warrants of Shear that, if exercised, would
result in the Funds' holding approximately 13.6% of the outstanding
common shares of Shear.
The Funds acquired the common shares and warrants for investment
purposes and may, from time to time, acquire additional securities of
Shear or dispose of such securities as they may deem appropriate.
Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore
Master Fund, L.P. with principal offices at 909 Third Avenue, 29th
Floor, New York, NY 10022.
SOURCE LIBRA ADVISORS, LLC
For further information: For further information:
Mr. Ranjan Tandon, Managing Member, at (212) 350-5125