TORONTO, Oct. 27 /CNW/ - On October 23, 2009, The Dromore Investment Company Limited ("Dromore") sold on the Toronto Stock Exchange 1,834,484 Common Shares it held in Franconia Minerals Corporation (the "Issuer"), thereby decreasing its current holdings in the Issuer by 3.109% to 0%.
As a result of the sale, Dromore and the other related holding companies, individuals and trusts that are all related to the Vincent and/or Curry families of Toronto (such entities being the Shareholders as listed and defined above), who may be considered to act "jointly or in concert" for purposes of Canadian securities legislation, now own an aggregate of 5,807,584 Common Shares of the Issuer, representing approximately 9.830% of the issued and outstanding Common Shares, based on a total of 59,082,572 Common Shares issued and outstanding.
The Common Shares sold had previously been acquired by Dromore in the ordinary course of business for investment purposes. The Shareholders have no intention of making an offer generally to acquire the Issuer. The Shareholders may acquire additional Common Shares or dispose of Common Shares from time to time.
This press release is being issued in accordance with the early warning requirements of applicable Canadian securities laws.
SOURCE THE DROMORE INVESTMENT COMPANY LIMITED
For further information: For further information: Kit Vincent, Suite 808, 1200 Bay St, Toronto, Ontario, (416) 964-6411