TORONTO, March 19 /CNW/ - Gordon Investment Partners, a general partnership, announced that on March 11, 2010 it entered into an agreement with its joint actor Ridge Capital Amalgamated Corp. ("Ridge") to acquire for cash 1,950,700 common shares of Northstar Aerospace, Inc. ("Northstar") held by Ridge, representing approximately 6.5% of the outstanding common shares of Northstar, by way of a private transaction at a price of $1.10 per share. The acquisition was completed on March 16, 2010. After giving effect to this acquisition, Gordon Investment Partners beneficially owns a total of 5,872,865 common shares of Northstar, or approximately 19.7% of the outstanding common shares of Northstar, and Ridge no longer owns any common shares of Northstar. Each of Gordon Investment Partners and Ridge are entities controlled by Mr. Neil Baker.
The common shares were acquired for investment purposes. In the future, Gordon Investment Partners may, subject to applicable law, acquire additional common shares or dispose of common shares of Northstar depending upon a number of factors, including general market and economic conditions and other available investment opportunities.
SOURCE GORDON INVESTMENT PARTNERS
For further information: For further information: or to receive a copy of the early warning report filed in connection with this press release, please contact: Charlotte Gooderham, 141 Adelaide Street West, Suite 1628, Toronto, Ontario, M5H 3L5, Telephone: (416) 861-3033