Harold Albrecht Acquired Ownership And Control
4/17/02
ALUDRA INC. ("YAD-V") - Harold Albrecht Acquired Ownership And Control Of Approximately - 2,827,105 Common Shares of Aludra Inc.
Harold Albrecht, of Oakville Ontario, announces that on April 5, 2002 and April 11, 2002 he acquired ownership and control of approximately 2,827,105 common shares of Aludra Inc. ("Aludra" or the "Corporation") constituting approximately 21% of the issued and outstanding shares of Aludra.
Pursuant to a Share Transfer Agreement, the founding shareholders of Aludra transferred 7,000,000 of 9,000,000 common shares originally issued to them to a management and financial group (the "Group") led by Harold Albrecht. The founding shareholders of Aludra transferred their shares for an aggregate consideration of One Dollar ($1.00) and for the forbearance of the outstanding security. As a result, Harold Albrecht acquired ownership of 2,527,105 common shares of Aludra and with the remaining 4,472,895 common shares being acquired by the Group.
In addition, pursuant to a debt settlement agreement, Mr. Albrecht was issued from treasury 300,000 common shares of Aludra at a price of $0.25 per common share and ITR Marketing Inc., a member of the Group was also issued 1,200,000 common shares of the Corporation at a price of $0.25 per share to settle an outstanding debt. After this issuance, Harold Albrecht holds 2,827,105 common shares of the Corporation and the Group holds 5,672,895 common shares of the Corporation.
Control of the Corporation was acquired. Prior to the transactions, neither Harold Albrecht nor the Group held common shares in Aludra.
Harold Albrecht and the Group hold in aggregate 8,500,000 common shares of Aludra or 63.4% of the issued and outstanding shares of Aludra.
The common shares were acquired pursuant to private agreements. Harold Albrecht and the Group only came together in order to acquire control of Aludra. Harold Albrecht and the Group may acquire further securities of Aludra from time to time.
After this transaction, members of the Group may not act jointly with respect to the ownership and control of the Corporation TEL: (905) 465-1856, Ext. 235 Harold Albrecht
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