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EARLY WARNING REPORT FILED PURSUANT TO
PART 3 OF NATIONAL INSTRUMENT 62-103
1. The name and address of the offeror:
Dale Wallster (the “Offeror”)
4104 St. Albans Avenue
North Vancouver, BC, V7N 1T1
2. The designation and number or principal amount of securities and the offeror's
securityholding percentage in the class of securities of which the offeror acquired
ownership or control in the transaction giving rise to the obligation to file the
news release, and whether it was ownership or control that was acquired in those
circumstances:
The Offeror, through a corporation controlled by him, acquired ownership and control
of an additional 1,500,000 common shares of Shoreham Resources Ltd. ("Shoreham”)
pursuant to an exercise of 1,500,000 warrants at an exercise price of $0.60 per share.
The warrants were previously issued in connection with a private placement.
3. The designation and number or principal amount of securities and the offeror's
securityholding percentage in the class of securities immediately after the
transaction or occurrence giving rise to the obligation to file the news release:
Immediately after the share acquisition stated herein, the Offeror, directly and
indirectly, exercised ownership and control over 9,200,000 common shares of
Shoreham representing approximately 12.87% of the issued and outstanding common
shares of Shoreham.
4. The designation and number or principal amount of securities and the
percentage of outstanding securities of the class of securities referred to in
paragraph 3, above, over which:
(a) the Offeror, either alone or together with any joint actors, has ownership
and control
See (3) above. The Offeror is not acting together with any joint actors.
(b) the Offeror, either alone or together with any joint actors, has ownership
but control is held by other persons or companies other than the Offeror
or any joint actor
Not applicable
(c) the Offeror, either alone or together with any joint actors, has exclusive or
shared control but does not have ownership
Not applicable.
5. The name of the market where the transaction or occurrence took place:
The Offeror acquired ownership and control of the 1,500,000 common shares of
Shoreham pursuant to an exercise of 1,500,000 warrants which warrants were
previously issued pursuant to a private placement.
6. The value, in Canadian dollars, of any consideration offered per security if the
offeror acquired ownership of a security in the transaction or occurrence giving
rise to the obligation to file a news release:
The Offeror paid consideration of $0.60 per common share of Shoreham, for
aggregate consideration of $900,000.
7. The purpose of the offeror and joint actors in effecting the transaction or
occurrence that gave rise to the news release, including any future intention to
acquire ownership of, or control over, additional securities of the reporting
issuer:
The Offeror's acquisition was made for investment purposes. The Offeror may, in the
future, acquire ownership and control over additional securities of Shoreham for
investment purposes.
8. The general nature and the material terms of any agreement, other than lending
agreements, with respect to securities of the reporting issuer entered into by the
offeror, or any joint actor, and the issuer of the securities or any other entity in
connection with the transaction or occurrence giving rise to the news release,
including agreements with respect to the acquisition, holding, disposition or
voting of any of the securities:
Not applicable.
9. The names of any joint actors in connection with the disclosure required by this
Form:
Not applicable.
10. In the case of a transaction or occurrence that did not take place on a stock
exchange or other market that represents a published market for the securities,
including an issuance from treasury, the nature and value of the consideration
paid by the offeror:
The Offeror paid cash consideration of $0.60 per share pursuant to an exercise of
1,500,000 warrants.
11. If applicable, a description of any change in any material fact set out in a report
by the Offeror under the early warning requirements or Part 4 of National
Instrument 62-103:
Not applicable.
12. If applicable, a description of the exemption from securities legislation being
relied on by the Offeror and the facts supporting the reliance:
Not applicable.
DATED this the 18th day of May, 2010.
Signed "Dale Wallster"
DALE WALLSTER
eeeeeexcelent. cheap shares for sale. 2 weeks from now we will be back up a nickel and the big bag holder is the loser.
sorry man, im just getting ticked off with the performance of this company. still have all my shares though hoping this pipe dream will work out.
ven, i can see you are upset with the sp but if we weren't getting screwed by bending these stats would probably look alot better.
what is wrong with the board of directors that nobody can see how incompetent Bending has proven himself. there has got to be some people with alot at stake (Wallster?) i am getting very impatient and something has got to give. can someone up there start a campaign or what? or have they? and why isn't Tom or Warrens group trying to do what they attempted (and failed) with Duran? Too scared or have they sold out already?
whatsnewpussycat, can you post it online so we aren't all hassling the company?
try uploading it to a file site like this one http://www.sharecow.com/
then copy and paste the link to us