TORONTO, June 29, 2012 /CNW/ - Arnold T. Kondrat announces that he has purchased for cash 1,515,151 common shares (the "Purchased Shares") of Delrand Resources Limited (the "Company") at a price of Cdn$0.132 per share pursuant to an exercise of warrants of the Company. The Purchased Shares represent 2.87% of the currently outstanding common shares of the Company. Taking into account the acquisition of the Purchased Shares, Mr. Kondrat now owns 8,149,851 (or 15.46%) of the outstanding common shares of the Company. He also holds 2,484,849 common share purchase warrants of the Company and 125,000 stock options of the Company such that, assuming the exercise of these warrants and stock options, he would own on a fully diluted basis, 10,759,700 (or 19.44%) of the outstanding common shares of the Company.
Mr. Kondrat acquired the Purchased Shares for investment purposes and may in the future increase or decrease his ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.
Mr. Kondrat is a director of the Company. His address is Suite 7070, 1 First Canadian Place, 100 King Street West, Toronto, Ontario, M5X 1E3, Canada.
For further information:
Arnold T. Kondrat
Phone: (416) 366-2221
Fax: (416) 366-7722