Gran Tierra Energy Inc. Announces Sale of 137,093,750 PetroTal Shares for US$30.1 Million
26 Novembro 2021 - 4:00AM
Gran Tierra Energy Inc.
(“Gran Tierra” or
the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:
GTE) today announced that Gran Tierra Resources
Limited (“
GTRL”), a wholly owned subsidiary of
Gran Tierra, has procured private purchasers for the sale by GTRL
of an aggregate of 137,093,750 common shares (the
“
Purchased Shares”) of PetroTal Corp.
(“
PetroTal”) at a price of US$0.2198 per Purchased
Share, for an aggregate purchase price of approximately US$30.1
million. The price of US$0.2198 per Purchased Share represents an
approximate discount of 10.8% to the closing price of the common
shares of PetroTal on November 25, 2021 on the AIM Market of the
London Stock Exchange.
Gran Tierra intends to use the proceeds of the
sale of PetroTal shares to pay down debt and for other general
corporate purposes.
Following this transaction, GTRL will not own
any shares of PetroTal.
Contact Information
For investor and media inquiries please
contact:
Gary GuidryPresident & Chief Executive
Officer
Ryan EllsonExecutive Vice President & Chief
Financial Officer
Rodger TrimbleVice President, Investor
Relations
+1-403-265-3221
info@grantierra.com
About Gran Tierra Energy
Inc.
Gran Tierra Energy Inc. together with its
subsidiaries is an independent international energy company
currently focused on oil and natural gas exploration and production
in Colombia and Ecuador. The Company is currently developing its
existing portfolio of assets in Colombia and Ecuador and will
continue to pursue additional new growth opportunities that would
further strengthen the Company’s portfolio. The Company’s common
stock trades on the NYSE American, the Toronto Stock Exchange and
the London Stock Exchange under the ticker symbol GTE. Additional
information concerning Gran Tierra is available at
www.grantierra.com. Information on the Company's website does not
constitute a part of this press release. Investor inquiries may be
directed to info@grantierra.com or (403) 265-3221.
Gran Tierra's Securities and Exchange Commission
filings are available on the SEC website at http://www.sec.gov. The
Company’s Canadian securities regulatory filings are available on
SEDAR at http://www.sedar.com and UK regulatory filings are
available on the National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Forward Looking Statements and Legal
Advisories
This press release contains opinions, forecasts,
projections, and other statements about future events or results
that constitute forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and forward
looking information within the meaning of applicable Canadian
securities laws (collectively, "forward-looking statements"). The
use of the words "expect", "will,” “intend” and similar terms
identify forward-looking statements. In particular this press
release contains forward-looking statements regarding the closing
of the sale and the use of proceeds therefrom. The forward-looking
statements contained in this press release are based on certain
assumptions made by Gran Tierra based on management's experience
and other factors believed to be appropriate. Gran Tierra believes
these assumptions to be reasonable at this time, but the
forward-looking statements are subject to risk and uncertainties,
many of which are beyond Gran Tierra's control, which may cause
actual results to differ materially from those implied or expressed
by the forward looking statements. Gran Tierra disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
This announcement shall not constitute an offer
to sell, or a solicitation of an offer to buy, any securities.
Early Warning Disclosure
The following disclosure is provided pursuant to
National Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues in connection with the
filing of an early warning report regarding GTRL’s disposition of
the Purchased Shares.
On November 26, 2021, GTRL procured private
purchasers for the sale by GTRL of the Purchased Shares at a price
of US$0.2198 per Purchased Share, for an aggregate purchase price
of US$30,139,512.56. The Purchased Shares represent approximately
16.80% of the issued and outstanding common shares of PetroTal (the
“Common Shares”) as of November 25, 2021.
Following this transaction, GTRL will not own any Common Shares.
The purchase price is C$0.2780 per Purchased Share for an aggregate
purchase price of C$38,117,506.72, in each case based on the Bank
of Canada daily exchange rate on November 25, 2021. GTRL is
disposing of the Purchased Shares for investment purposes so that
it can pay down debt and for other general corporate purposes.
PetroTal, GTRL and Gran Tierra Energy
International Holdings Ltd. (“GTEIHL”) were
parties to an investor rights agreement dated December 18, 2017
pursuant to which GTRL and GTEIHL were granted the right to
nominate certain directors to the board of directors of PetroTal,
certain pre-emptive rights, certain registration rights and certain
piggy-back registration rights. PetroTal’s head office is located
at 11451 Katy Freeway, Suite 500, Houston, Texas, United States
77079. The Common Shares are traded on the TSX Venture Exchange and
the AIM. GTRL’s address is Suite 900, 520 – 3rd Avenue SW, Calgary,
Alberta, Canada T2P 0R3. A copy of the early warning report with
additional information in respect of the foregoing matters will be
filed and made available on PetroTal’s SEDAR profile at
www.sedar.com. To obtain a copy of the early warning report, you
may also contact Ryan Ellson, Chief Financial Officer of Gran
Tierra and a director of GTRL at (403) 265-3221.
Gran Tierra Energy (TSX:GTE)
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