PLATFORM RESOURCES INC (PFM)

[Rocketred]

Platform investor Hesperian boosts shareholding

2006-07-20 18:37 ET - News Release
Shares issued 23,963,434
PFM Close 2006-07-20 C$ 0.415


Mr. William Koenig of Hesperian reports

HESPERIAN CAPITAL MANAGEMENT LTD. ANNOUNCES SIGNIFICANT INVESTMENT IN PLATFORM RESOURCES INC.

Hesperian Capital Management Ltd., which manages a strategically focused group of public and private investment funds (the Norrep group of funds), has confirmed Norrep Performance 2006 Flow-Through Limited Partnership has acquired two million shares of Platform Resources Inc.

As a result of this investment, Hesperian controls four million common shares, which represent 13.92 per cent of the outstanding voting shares of Platform Resources.

The Platform Resources shares are held by Hesperian for investment purposes and will be reviewed by Hesperian's management on a regular basis. Management may increase or decrease its share ownership of this investment in the future. A copy of the report filed by Hesperian in connection with the acquisition, as required under applicable securities legislation, may be obtained by contacting the office of Hesperian at 1-877-531-9355.