Mr. Frank Callaghan, investor, reports
ACQUISITION OF COMMON SHARES OF STARR PEAK EXPLORATION LTD.
Pursuant to the disclosure requirements of applicable
securities laws, on Aug. 9, 2016, J. Frank Callaghan acquired beneficial
ownership of 12,400,963 common shares of Starr Peak Exploration Ltd. at a
deemed price of 5.5 cents per share in settlement of a debt in the amount of $682,053 as previously
announced by the company on June 15, 2016. The debt settlement
included the issuance of 7,177,327 common shares to Mr. Callaghan directly and 5,223,636
common to Standard Drilling and & Engineering Ltd., a company wholly owned by Mr. Callaghan.
Prior to the debt settlement, Mr. Callaghan owned or controlled a total of 239,866 common
shares of the company representing 4.911 per cent of the issued and outstanding common shares of the
company. As a result of the debt settlement, Mr. Callaghan currently beneficially owns and
exercises control over a total of 12,640,829 common shares of the company, representing
an interest of approximately 64.15 per cent of the company's current issued and outstanding common
shares.
The securities were acquired for investment purposes. Mr. Callaghan has a long-term view of the
investment and may acquire additional shares either on the open market or through private
acquisitions or sell the shares either on the open market or through private dispositions in the
future, depending on market conditions, reformulation of plans and/or other relevant factors. A
copy of Mr. Callaghan's early warning report will appear on Starr Peak Exploration's
profile on SEDAR and may also be obtained by calling 604-669-6463.
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