FREDERICTON, NB,, July 2 /CNW/ - July 2, 2008 (TSX-V - OVL) Overland
Realty Limited (the "Company" or "Overland") confirmed today that the closing
of it's previously announced private placement of Common Shares of the Company
on June 30, 2008, has resulted in two shareholders meeting insider status as
defined by applicable regulations.
Through participation in the most recent private placement, Mr. W. Brett
Wilson ("Wilson"), a Calgary based businessman and philanthropist has
increased his holdings and now owns or controls 12.92% of the outstanding
Common Shares (12.26% on a fully diluted basis) of the Company. In addition,
Primex Investment Limited ("Primex"), an investment firm located in Vancouver,
subscribed for shares resulting in the ownership of 12.01% (11.40% on a fully
diluted basis) of the outstanding Common Shares of Overland.
"We are very pleased to have two experienced national investors recognize
the merits of our growth plans and strength of our current portfolio" said
Mr. Scott Armour McCrea, President and CEO.
Participation in the placement by both Wilson and Primex was declared as
for investment purposes only, in accordance with Early Warning Reports filled
with the applicable securities commissions which, depending on market
conditions, may result in the further purchases or disposition of their
Overland Realty Limited is a TSX-V listed, growth-orientated real estate
corporation with corporate offices based in Halifax, Nova Scotia. The company
is focused on increasing shareholder value through the acquisition,
development, and management of commercial properties in targeted Canadian
markets, starting within Atlantic Canada. Further information on Overland can
be found at www.overlandrealty.ca.
The Corporation has issued and outstanding 25,812,213 common shares.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Scott McCrea, President & CEO, (902) 474-3000,
firstname.lastname@example.org; www.overlandrealty.ca; Source: Overland Realty