Macquarie Bank Limited: Macquarie Bank Limited Acquires Stake in Explorator Resources Inc.
Macquarie Bank Limited Acquires Stake in Explorator Resources Inc.
TORONTO, ONTARIO — (MARKET WIRE) — January 26, 2007 — Macquarie Bank Limited (”Macquarie Bank”) announced today that it has acquired ownership
of 2,000,000 units of Explorator Resources Inc. (”Explorator”), pursuant to a private placement by Explorator. Each unit consists of one common share of Explorator and one warrant entitling the holder to purchase one common share of Explorator at a price of $0.30 for a period of eighteen months from the date of issue.
Prior to the acquisition, Macquarie Bank did not own any securities of Explorator. After the acquisition of the units, Macquarie Bank is deemed to own 4,000,000 common shares of Explorator, representing approximately 17% of Explorator’s issued and outstanding common shares.
The 2,000,000 units were issued to Macquarie Bank at a price of $0.25 per unit, for total consideration of $500,000. The shares and warrants were acquired by Macquarie Bank for investment purposes and, depending on market and other conditions, Macquarie Bank may increase or decrease its ownership of, or control or direction over, securities of Explorator.
Explorator is listed on the TSX Venture Exchange under the symbol “EXO.P”.
Macquarie Bank Limited is located at Level 1, No. 1 Martin Place, Sydney, NSW 2000, Australia.
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