CALGARY, ALBERTA--(Marketwire - Jan. 28, 2011) - This announcement relates to the holdings of Louis W. MacEachern ("Mr. MacEachern") in RIA Resources Corp. (TSX VENTURE:RIA) ("RIA").
On January 27, 2011, Mr. MacEachern acquired (the "Transaction") control or direction over 1,000,000 common shares ("Common Shares") of RIA as a result of the subscription from treasury for 1,000,000 Common Shares of RIA at price of $0.10 per Common Share. Prior to the Transaction, Mr. MacEachern owned and controlled an aggregate of 908,050 Common Shares representing approximately 6.48% of the outstanding Common Shares of RIA. Immediately after the Transaction, Mr. MacEachern, directly and indirectly, has ownership or control of an aggregate of 1,908,050 Common Shares representing approximately 11.38% of the issued and outstanding Common Shares of RIA.
The Common Shares were acquired privately pursuant to the terms of a Subscription Agreement dated January 27, 2011 between Mr. MacEachern and RIA. Mr. MacEachern acquired the Common Shares for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over the Common Shares or other securities of RIA, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
Mr. MacEachern will be filing a report under National Instrument 62-103 - The Early Warning System of the Canadian Securities Administrators in connection with the Transaction. For further information and to obtain a copy of such report please see contact information.Neither 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.