ABD increases ownership in Points North Group

February 19, 2011 in News

Wollaston Lake, SK February 9, 2011 Athabasca Basin Development Limited Partnership (ABDLP) would like to announce an increase in the amount of ownership they hold in Points North Group of Companies.

As of February 1, 2011 ABDLP owns 48.38% of Points North Group, up from 43.11%. “The decision to increase our ownership shows the confidence we have in the long-term prospects at Points North and surrounding area. It also sends the message that we have strong confidence in their management as well”, says Geoff Gay ABDLP CEO.

As part of its current holdings, Athabasca Basin Development has held ownership in Points North Group of Companies since 2006.

When asked about the recent change in ownership level, Points North Group President, Mark Eikel replied saying “we are pleased to see ABDLP increase their ownership in our company. They are a very good corporate partner, and their increase in ownership lets us know that they approve of our direction and plans for the future.”

Current Ownership of Points North Group of Companies:

  • Athabasca Basin Development Limited Partnership – 48.38%
  • Grab Holdings – 30.32%
  • Peter Ballantyne Developments (1999) Ltd – 4.26%
  • Prince Albert Development Corporation – 17.02%