OTTAWA, Jan. 18, 2012 /CNW/ - SC Stormont Holdings Inc. ("Stormont" or
the "Company") which is located at 1000 Innovation Drive, Suite 400,
Ottawa, Ontario K2K 3E7 announced that since it's last early warning
report it has (i) acquired 6,725,000 common shares and 6,350,000
warrants pursuant to a private placement (ii) sold 4,335,000 common
shares privately; (iii) exercised 5,333,334 warrants and (iv) been
granted 2,684,408 options of Clearford Industries Inc. (TSXV: CLI)
("Clearford"). Stormont currently owns 12,223,334 common shares,
1,016,666 warrants and 2,684,408 options. Stormont currently owns
approximately 19.025% of the issued and outstanding Clearford common
shares. Upon the exercise of the warrants and options of Clearford
owned by Stormont, Stormont will hold approximately 23.436% of the
issued and outstanding Clearford common shares. Stormont is majority
owned by Roderick M. Bryden.
Stormont is holding the Clearford common shares for investment purposes.
Depending on market and other conditions, Stormont may from time to time
in the future increase or decrease its ownership, control or direction
over Clearford common shares or other Clearford securities through
market transactions, private agreements or otherwise.
A report regarding this transaction has been filed on SEDAR and may be
viewed at www.sedar.com.
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SOURCE SC STORMONT INC.
For further information:
Please contact Sharilyn McNaughton at 613-287-3124