OTTAWA, Aug. 21 /CNW Telbec/ - SC Stormont Holdings Inc. ("Stormont" or
the "Company"), which is located at 1000 Innovation Drive, Suite 400, Ottawa,
Ontario K2K 3E7, today announced that it has acquired ownership of
4,000,000 common shares of Clearford Industries Inc. (TSXV: CLI)
("Clearford"), which represents approximately 15.56% of the issued and
outstanding Clearford common shares.
After the above-mentioned purchase, Stormont will own 4,500,000 Clearford
common shares, which represents approximately 17.5% of the issued and
outstanding Clearford common shares. Stormont is majority owned by
Roderick M. Bryden.
The purchase of the shares was a private transaction between Stormont and
certain principals of Clearford.
Stormont is holding the Clearford common shares for investment purposes.
Depending on market and other conditions, Stormont may from time to time in
the future increase or decrease its ownership, control or direction over
Clearford common shares or other Clearford securities through market
transactions, private agreements or otherwise.
A report regarding this transaction has been filed on SEDAR and may be
viewed at www.sedar.com. The report may also be obtained by contacting
Robert C. McInnis, Executive Vice-President of Stormont, at 613-287-3118.
For further information:
For further information: Robert C. McInnis, Executive Vice-President of
Stormont, (613) 287-3118