VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/04/13 -- Altima Resources Ltd. (the "Company") (TSX VENTURE: ARH)(PINKSHEETS: ARSLF)(FRANKFURT: AKC) announces that Mr. Stephen Watts, of 21 Wright Road, Crafers, S.A., Australia, 5152, has advised he acquired (the "Acquisition") ownership and control of 2,582,520 units of the Company ("the Units") (issued at a price of $0.05 per Unit, each Unit comprised of one common share (the "Shares") and one share purchase warrant (the "Warrants") for a total of $129,126 from the Company's private placement that closed on June 24, 2013, (refer to the News Release dated June 25, 2013). The Shares represent 0.9% of the Company's issued and outstanding shares. Assuming exercise of the Warrants, the Units would represent 1.7% of the then issued and outstanding shares of the Company.
After giving effect to the Acquisition, Mr. Watts beneficially owns and controls, directly and indirectly, the following securities of the Company (collectively, the "Securities"): (i) 19,773,520 common shares of the Company representing 6.5% of the Company's issued and outstanding common shares on a non-diluted basis; and (ii) warrants exercisable to purchase an aggregate of 17,582,520 common shares of the Company (the "Total Warrants"). On a diluted basis, collectively, the Securities (assuming exercise of the Total Warrants) would represent 11.6% of the Company's then issued and outstanding common shares.
Mr. Watts acquired the Units for investment purposes. He intends to evaluate his investment in the Company and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes.
A copy of the early warning report being filed by Mr. Watts may be obtained by contacting Richard Barnett, the CFO and Secretary of the Company.
The above information has been provided to the Company by Mr. Watts for inclusion in this news release.
ON BEHALF OF THE BOARD
Joe DeVries, Director
Neither the 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.
Altima Resources Ltd.
(604) 718-2808 (FAX)