This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wolseley Ventures Limited Files Early Warning Report

DOUGLAS, Isle of Man, March 25, 2013 /CNW/ - Wolseley Ventures Limited of 19, Peel Road, Douglas, Isle of Man, IM1 4LS  (the " Offeror") acquired, on March 22, 2013, an aggregate of 17,500,000 units (" Units") of Montana Exploration Corp. (" Montana "), each Unit being comprised of one common share (" Common Share") of Montana and one class A warrant of Montana (" Class A Warrant") at a price per Unit of $0.20 (the " Offering") pursuant to an investment agreement dated January 30, 2013 (the " Investment Agreement") for aggregate gross proceeds of $3,500,000.  Each Class A Warrant entitles the holder to purchase one Common Share at an exercise price equal to $0.25 per Common Share for a period of one year from the date of issuance.

Upon closing of the Offering, the Offeror also received an option (the " Option") to require Montana to purchase all of the shares of Shining Mountains, LLC (" AcquisitionCo"), an affiliate of the Offeror, for a purchase price equal to the net asset value of AcquisitionCo, to a maximum of $6,900,000, of which cash in such net asset value calculation may not exceed $4,050,000.  The purchase price of AcquisitionCo will be paid by Montana through the issuance of up to 18,157,894 Common Shares at a deemed price of $0.38 per Common Share.

Immediately following the closing of the Offering, the Offeror had beneficial ownership of, and control and direction over, directly or indirectly, approximately 23% of the issued and outstanding Common Shares on an undiluted basis and approximately 47% on a fully diluted basis, assuming the full exercise of the Offeror's Class A Warrants and the Option.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs