Castle Resources Announces Acquisition of Common Shares of GreenBank Capital Inc.
TORONTO, ONTARIO -- (Marketwired) -- 05/03/13 -- Castle Resources Inc. (TSX VENTURE: CRI) ("Castle Resources" or the "Company") announced that it exercises direct control over 7,003,891 common shares (the "Shares") of GreenBank Capital Inc. (the "Reporting Issuer").
Effective April 16, 2013 the Company acquired direct control over the Shares as a result of a transfer of shares to shareholders of Winston Resources Inc. as a dividend in kind under a plan of arrangement effective the same date. The Shares represent 27.2% of the issued and outstanding capital of the Reporting Issuer. Castle acquired shares in Winston Resources Inc. as a result of the sale of interest in the Elmtree Gold Property in Bathurst, N.B. (see press release dated June 25, 2012).
The Shares are held for investment purposes, and the Company may, depending on market and other conditions, increase or decrease its beneficial ownership of securities of the Reporting Issuer, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
About Castle Resources
Castle Resources is a Toronto-based junior mineral development company focusing on high- quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Mine and begin new exploration activities.
For more information please visit the Castle Resources' website at www.castleresources.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Castle Resources Inc.
Mike Sylvestre
President & CEO
416-366-4100
msylvestre@castleresources.com
Castle Resources Inc.
Lenny Foreht
VP Operations and Corporate Development
416-366-4100
lforeht@castleresources.com
www.castleresources.com