TORONTO, Feb. 7 /CNW/ - Geosam Capital Inc. ("Geosam") announces that on
February 7, 2011, it acquired 471,000 shares of WGI Heavy Minerals,
Incorporated ("WGI") at a cost of $0.44 per share, representing
approximately 2.02% of the outstanding shares of WGI, bringing its
total holdings in WGI to 1,101,000 shares representing approximately
4.71% of the outstanding shares of WGI.
The WGI shares held by Geosam, George Armoyan, the President of Geosam,
and members of his immediate family with whom he resides, total
2,856,845 shares, representing approximately 12.23% of the total
outstanding shares of WGI.
The purchase of the shares by Geosam was made through the facilities of
the Toronto Stock Exchange for investment purposes. Geosam may, from
time to time, acquire additional shares or other securities of WGI,
dispose of some or all of the existing or additional shares or other
securities of WGI, or continue to hold shares or other securities of
WGI in the normal course of Geosam's investment activities.
The issuance of this news release does not constitute an admission by
Geosam that it is acting jointly or in concert with Mr. Armoyan and
members of his immediate family with whom he resides with respect to
shares of WGI.
SOURCE GEOSAM CAPITAL INC.
For further information:
Geosam Capital Inc.
TD Canada Trust Tower
161 Bay Street, Suite 2400
P.O. Box 217, Toronto, ON, M5J 2S1
t: (416) 855-1925
f: (416) 640-1834