CALGARY, March 2 /CNW/ - Hesperian Capital Management Ltd., which manages
a strategically focused group of public and private investment funds,
announced today that it has acquired control of an additional 2,030,000 Class
A flow-through shares of Sierra Vista Energy Ltd. (the "Corporation").
The Norrep Performance 2007 Flow-Through Limited Partnership purchased
the shares via a private placement transaction. As a result of this
investment, Hesperian controls 4,464,000 Class A common shares and 90,000
Class B common shares, which represents 15.06% and 7.69% of the outstanding
Class A and Class B shares, respectively. The Class B shares are convertible
into Class A shares at a rate equal to $10.00 divided by the greater of $1.00
and the then current market price of the Class A shares. On a combined basis,
Hesperian controls 14.77% of the total outstanding Class A and Class B shares.
The Sierra Vista Energy Ltd. 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.
Hesperian Capital Management Ltd. is a Calgary-based investment manager
that manages the Norrep Group of Funds. They have over $770 million in
Visit www.hesperiancapital.com for more details about Hesperian and the
Norrep Group of Funds.
Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
For further information:
For further information: Keith Leslie, CFA, Vice-President, Hesperian
Capital Management Ltd., (403) 531-2650, email@example.com