CALGARY, April 17 /CNW/ - This announcement relates to the holdings of
David E. Mullen ("David Mullen") in Golconda Resources Ltd. (TSXV: GA)
David Mullen owns and controls an aggregate of 40,990,500 common shares
of Golconda representing approximately 43.7% of the outstanding common shares
of Golconda. On April 17, 2009, David Mullen granted an aggregate of
26,000,000 options (the "Options") to purchase common shares of Golconda to
certain arm's length parties including 2,000,000 Options to two executive
officers of Golconda. The Options are exercisable for a period of ten (10)
years from the date of grant at an exercise price of $0.10 per common share of
Golconda. Assuming that all of the Options are exercised, David Mullen will
have disposed of 26,000,000 common shares of Golconda and will beneficially
own 14,990,500 common shares of Golconda representing approximately 16.0% of
the outstanding common shares of Golconda. The granting of the Options was
completed by private agreement for the purpose of granting options to the
In connection with the grant of the Options, David Mullen is relying on
the exemption from a prospectus requirement for a trade by a control person
contained in Section 2.8 of National Instrument 45-102 - Resale of Securities.
Prior to the granting of the Options, David Mullen was a "control person" of
Golconda as that term is defined in the Securities Act (Alberta).
David Mullen will be filing a report under National Instrument 62-103 of
the Canadian Securities Administrators in connection with the Acquisition. For
further information and to obtain a copy of such report please contact David
Mullen at (403) 266-2067.
75 Sun Canyon Park S.E.
Calgary, AB T2X 2Z4
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."
For further information:
For further information: David Mullen at (403) 266-2067