CALGARY, July 2 /CNW/ - W. Brett Wilson ("Wilson") today announced that
he has subscribed for 1,500,000 common shares ("Common Shares") of Overland
Realty Limited ("Overland" or the "Company") at a price of $0.65 per Common
Share by way of a private placement (the "Investment"). Wilson's investment
was made in connection with a private placement by Overland of 6,157,696
Common Shares at a price of $0.65 per share for gross proceeds of $4,002,502
(the "Private Placement") which was completed on June 30, 2008.
Wilson owned 1,835,500 Common Shares of Overland or approximately 9.3% of
the outstanding Common Shares before the Investment and the Private Placement.
Wilson now owns 3,335,500 Common Shares or approximately 12.92% of the
outstanding Common Shares (12.26% of the outstanding Common Shares calculated
on a fully-diluted basis).
Wilson subscribed for the Common Shares for investment purposes only.
Depending upon market conditions and other factors that Wilson may deem
material to his investment decisions, Wilson may in the future acquire Common
Shares, or other securities of the Company, in the open market or in privately
negotiated purchases or otherwise, and may also, depending on then current
circumstances, dispose of all or a portion of the Common Shares, or other
securities of the Company, in one or more transactions, in each case to the
extent then permitted by applicable law and regulation.
This news release is being issued under the early warning provisions of
Canadian provincial securities legislation.
For further information:
For further information: a copy of the Early Warning Report that will be
filed with the applicable securities commissions can be obtained by
contacting: David W. Richardson, Telephone: (403) 303-3821, Email: