NEWS RELEASE:
12/7/00 - Destiny Acquired Common Shares of LML Payment
LML PAYMENT SYSTEMS INC ("LMLP-Q") - Destiny Acquired Common Shares of LML Payment
Robert E. Moore, President of Destiny Petroleum Inc. announces that it has acquired, for investment purposes, 3,533,132 common shares of LML Payment Systems Inc. ("LML") upon the conversion of 883,283 preference shares of LML's subsidiary, LHTW Properties Inc. held by it and now holds together with shares previously held, directly and indirectly, 5,086,018 common shares or approximately 27.40% of the outstanding shares of LML.
716377 Alberta Ltd., Lancia Investments Ltd., 719774 Alberta Ltd. and Robert Moore may be considered to be acting in concert with Destiny Petroleum, Inc. Each of the foregoing companies is wholly owned by Mr. Moore.
Destiny Petroleum Inc. presently has no intention to increase its beneficial ownership of securities of LML through purchases of issued shares. DATED at San Antonio, Texas, this 1st day of December 2000. Destiny Petroleum, Inc. Milam Building, 115 E. Travis, Suite 1427 San Antonio, TX 78205 |
