OTTAWA, Oct. 8 /CNW Telbec/ - Midland Baring Holdings Inc.
(the "Offeror"), 1400 Begin Street, Montreal, Quebec, H4R 1X1, today announced
that it has today acquired 7,478,730 common shares of Avalon Works Corp.
(TSX-V:AWB) (the "Corporation"), representing approximately 38% of the issued
and outstanding common shares of the Corporation.
Immediately after the close of the transaction, the Offeror holds
7,478,730 common shares of the Corporation, representing approximately 38% of
the issued and outstanding common shares of the Corporation.
The acquisition was effected through a private agreement pursuant to the
terms of which the Offeror agreed to purchase 7,478,730 common shares of the
Corporation from 2104280 Ontario Inc. at a price of $0.0032 per share payable
in cash. The Offeror acquired the common shares of the Corporation for
investment purposes. The Offeror may acquire or sell securities of the
Corporation at any time and from time to time in the open market or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this Release.
Midland Baring Holdings Inc. is issuing this press release pursuant to
National Instrument 62-103 - The Early Warning System and Related Take-Over
Bid and Insider Reporting Issues - and the applicable Canadian securities
legislation and will be filing the reports required thereunder.
For further information:
For further information: and to obtain copy of such reports, please
contact: Simon Phaneuf, (514) 461-7222