VANCOUVER, BRITISH COLUMBIA, Nov 03, 2011 (MARKETWIRE via COMTEX) --
WCSB Holdings Corp. is pleased to announce the completion of its
previously announced transaction, on October 28, 2011 involving a
restructuring of WCSB Oil & Gas Royalty Income 2009 Limited
Partnership (the "Partnership") and its assets and the sale, on a tax
deferred basis, of its portfolio of oil and natural gas gross
over-riding royalties (the "GORRs") to Caledonian Royalty Corporation
("Caledonian") in exchange for royalty units of Caledonian ("CRC
Royalty Units"), a private Alberta-based corporation (the
"Transaction"). Under the terms of the Agreement, Caledonian issued
1,594,447 CRC Royalty Units valued at $19,133,364 for the GORRs.
The Partnership originally issued a total of 259,262 limited
partnership units at a price of $100 per unit (the "LP Units") for
gross proceeds of $25,926,200 in the summer of 2009.
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