News.. NEMI ACQUIRES 9,050,000 PREFERRED SHARES OF STETSON OIL & GAS LTD.
NEMI Northern Energy & Mining Inc. has acquired ownership and control over 9.05 million preferred shares of Stetson Oil & Gas Ltd. representing approximately 10.56 per cent of the issued and outstanding preferred shares of Stetson through the facilities of the TSX Venture Exchange, at a price of 0.5 cent per preferred share.
Following the acquisition, NEMI has ownership and control over 9.05 million preferred shares of Stetson, representing 10.56 per cent of Stetson's issued and outstanding preferreds.
NEMI has acquired the preferred shares for investment purposes and has no present intention to acquire further securities of Stetson, although it may in the future acquire or dispose of securities of Stetson, through the market, privately or otherwise, as circumstances or market conditions warrant.
A copy of the early warning report filed with the applicable securities regulators regarding the acquisition is available on SEDAR.
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