RE: LAK / BECCALGARY, July 28, 2011/CNW/ - BEC InternationalCorporation ("BEC") reports that, pursuant to a debt cancellationagreement with Lakota Resources Inc. ("Lakota"), whereby inconsideration of forgiving and canceling a debt in the amount of$650,000owing to BEC by Lakota, BEC has acquired ownership of 65,000,000common shares in the capital of Lakota. The shares issued in connectionwith the settlement of this debt are subject to a four month holdperiod from their date of issuance.
Based on theunderstanding of BEC that 395,167,185 common shares of Lakota are issuedand outstanding as of July 28, 2011, the direct and indirectshareholdings of BEC in Lakota, immediately following completion of theshares for debt transaction, represents approximately 17.7% of theoutstanding common shares of Lakota, calculated on a non-diluted basis.
BEC 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 common shares in the capital of Lakota.