NIKO RESOURCES LTD. announces that it has acquired approximately 19% of the issued and outstanding common shares of Vast Exploration Inc. (TSX Venture Exchange: VST) (“Vast”) for approximately $11,499,600 as part of Vast’s recently completed $35 million bought-deal financing. Niko acquired 19,166,000 Units of Vast at $0.60 per unit. Each Unit consisted of one Vast share and one half of one share purchase warrant that is exercisable at a price of $0.90 per warrant until June 12, 2010. Niko has acquired the securities under this offering for investment purposes only and may acquire additional securities or dispose of its beneficial ownership, control or direction over securities through market transactions, private placements, treasury issuances or otherwise as circumstances or market conditions warrant or arise. Niko is now the single largest shareholder of Vast.
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