CALGARY, Oct. 27 /CNW/ - The RPM Trust (the "Trust") announced today that
it has acquired beneficial ownership of 993,138 trust units (the "Trust
Units") of Pantera Drilling Income Trust ("Pantera"). The Trust Units were
acquired pursuant to a rights offering of Pantera and, in particular, pursuant
to rights assigned to the Trust by Ronald Mathison under a Stand-By Purchase
Agreement dated September 17, 2008 (the "Purchase Agreement") among Pantera
and members of the Board of Trustees of Pantera. Trust Units acquired pursuant
to the Purchase Agreement were acquired for $3.13 per Trust Unit.
After giving effect to the acquisition of the Trust Units, the Trust
beneficially owns or exercises control and direction over 993,138 Trust Units,
which represents 11.7% of the outstanding Trust Units. The Trust Units were
acquired for investment purposes. The Trust does not currently intend to
acquire additional securities of Pantera and may, from time to time, dispose
of securities of Pantera.
The Trust will be filing a report (as contemplated by National Instrument
62-103 - The Early Warning System and Related Takeover Bid and Insider
Reporting Issues) in connection with its acquisition of the Trust Units.
For further information:
For further information: or to obtain a copy of the report, please
contact Lorna Pollock at (403) 515-8400, or firstname.lastname@example.org