Calgary, Alberta-based principal investment firm Cavendish Investing Ltd. announced Wednesday that Chairman and President Richard A. N. Bonnycastle has indirectly acquired ownership of a total of 263,160 Flow Through shares (common shares) in the capital of Pacific Iron Ore Corporation, pursuant to the disclosure requirements of all applicable securities laws.
Pacific Iron Ore Corporation issued the common shares from the treasury to Bonnycastle at a price of US$0.38 per flow through share.
Bonnycastle now beneficially owns, controls, or has direction over an aggregate of 30,645,891 common shares-representing 45.48 percent of the corporation's outstanding common shares.