Macquarie Bank Limited Acquires 12.74% Interest in TrueStar Petroleum Corporation.TORONTO -- Macquarie Bank Macquarie Bank Limited is an Australian merchant bank and financial services group, providing a broad range of products and services to investors, corporations and government. Its global headquarters is in Sydney, and it is listed on the Australian Stock Exchange (ASX). Limited today announced that it has acquired a 12.74% interest in TrueStar Petroleum Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: TPC (Transaction Processing Performance Council, San Francisco, CA, www.tpc.org) An organization devoted to benchmarking transaction processing systems. In order to derive the number of transactions that can be processed in a given time frame, TPC benchmarks measure the total performance of ), headquartered in Vancouver, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . Macquarie Bank Limited ("Macquarie Bank") acquired ownership of common shares and rights to acquire common shares that if exercised would result in it holding an aggregate of 11,474,798 of the common shares of TrueStar Petroleum Corporation (the "Company"). Macquarie Bank's acquisition of its interest in the Company occurred pursuant to a series of private transactions that closed on January 30 and 31, 2006. Macquarie Bank's acquisition represents ownership of approximately 12.74% of the Company's issued and outstanding common shares on a partially diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis after giving effect to the number of the Company's common shares that would be issued and outstanding if Macquarie Bank exercised all of its rights to acquire the Company's common shares. Under the transactions, Macquarie Bank advanced US$4,000,000 (the "Term Loan") to Trinity Trinity, doctrine in Christianity Trinity [Lat.,=threefoldness], fundamental doctrine in Christianity, by which God is considered as existing in three persons. Barnett LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Trinity"), a wholly-owned indirect subsidiary of the Company, on January 30, 2006, pursuant to a credit agreement (the "Credit Agreement"). Under the terms of the Credit Agreement, Macquarie Bank acquired the immediate right to convert the Term Loan into 7,162,298 common shares of the Company upon advancing those funds to Trinity. On January 31, 2006, Macquarie Bank acquired ownership of 2,875,000 of the Company's common shares and warrants that are immediately exercisable to acquire a further 1,437,500 of the Company's common shares. Immediately after the transactions on January 31, 2006, Macquarie Bank therefore owns 2,875,000 common shares and is deemed to own a further 8,599,798 common shares, aggregating 11,474,798 common shares and representing approximately 12.74% of the Company's common shares on a partially diluted basis. Macquarie Bank acquired the Company's securities for investment purposes and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of the Company, including the Company's common shares, through market transactions, private agreements, treasury issuances, exercise of options, convertible securities or otherwise. For further information (or for a copy of the corresponding report required under applicable securities legislation) please contact: Katie Choi Macquarie Bank Limited Tel: (612) 8232-6207 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. |
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