Penbar Capital Ltd V.PEM

Primary Symbol: V.PEM.P

Penbar Capital Ltd. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation by completing a qualifying transaction. The activities of the Company are initially limited to the efforts to identify and evaluate the acquisition of assets and business, which would represent a qualifying transaction for regulatory purposes. The Company has not commenced commercial operations and has no significant assets.

TSXV:PEM.P - Post by User

Penbar Capital Ltd

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Comment by whinnyon Jun 19, 2010 2:01pm

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Post# 17204585

RE: RE: Confusion On BB Last Night

Here is my take on Clearwater: It was simply used to allow Del's wife and another shareholder to to benefit from Premium's share price rise at the proper time without incurring a huge tax hit. The way it was structured allowed them to merge at the right time without paying the usual tax fees on it. Don't know if that is right or not, Just thinking out loud. I don't think Clearwater was ever intending to drill or be a viable company. It was used simply to take advantage of the tax code. (???)

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