CALGARY, Oct. 15 /CNW Telbec/ - KERN Partners Ltd. ("KERN") announces that as a result of the recently completed transaction between Glamis Resources Ltd. ("Glamis") and Medora Resources Inc. ("Medora"), under which the shares of Medora held by certain funds managed by affiliates of KERN (the "KERN Funds") were exchanged for class A shares of Glamis, as well as the acquisition of class A shares of Glamis under the recent private placement by Glamis, the KERN Funds hold 29,012,424 class A shares of Glamis. Through subsequent inquiries of Glamis, KERN has today determined that these holdings represent approximately 10% of the issued and outstanding class A shares of Glamis.
The shares were acquired for investment purposes and the KERN Funds may increase or decrease beneficial ownership or control depending on market or other conditions.
In connection with this news release an early warning report will be filed by KERN in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:
KERN Partners Ltd.
200 Doll Block
116 - 8th Avenue S.E.
Telephone: (403) 517-1500
Fax: (403) 517-1515
SOURCE GLAMIS RESOURCES LTD.
For further information: For further information: Jason Montemurro, KERN Partners Ltd., (403) 517-1500, Fax: (403) 517-1515