Stocks & Investing
Stocks and Investing
Stocks and Investing 
Thu, January 12, 2012
Wed, January 11, 2012
January 11, 2012 18:18 ET
Acquisition of Shares of Golconda Resources Ltd.
DEWINTON, ALBERTA--(Marketwire - Jan. 11, 2012) - Further to disclosure requirements of applicable securities laws, Six-M-Enterprises (1993) Ltd. ("Six-M") reports that on January 11, 2012 it acquired 12,400,000 common shares ("Common Shares") of Golconda Resources Ltd. ("Golconda") (TSX VENTURE:GA) through a shares for debt private placement transaction (the "Transaction"), at a price of $0.05 per Common Share, constituting approximately 9.4% of the 131,513,232 Common Shares that are presently issued and outstanding. Six-M, together with First "M" Investments Ltd. ("First M"), now own and control 19,500,000 Common Shares, representing approximately 14.8% of the issued and outstanding Common Shares, and 1,250,000 common share purchase warrants. On a fully diluted basis, assuming exercise of the warrants, Six-M, together with First M, would own and control 20,750,000 Common Shares, representing approximately 15.6% of the issued and outstanding Common Shares. Roland Mullen and Leona Mullen are the sole shareholders, directors and officers of Six-M and First M. The Transaction was made for investment purposes. Six-M may increase or decrease its investment in Golconda depending on market conditions or any other relevant factors.
Six-M will be filing a report under National Instrument 62-103 - The Early Warning System of the Canadian Securities Administrators in connection with the Transaction.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.