TORONTO, Jan. 17, 2012 /CNW/ - Libra Advisors, LLC ("Libra") announced
today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P.
(collectively, the "Funds") have acquired, pursuant to the completion
of a plan of arrangement (the "Arrangement") among Storm Resources Ltd.
("Storm Resources") and Storm Gas Resources Corp. ("SGR"), a total of
2,593,500 common shares of Storm Resources in exchange for 1,950,000
common shares of SGR previously held by the Funds, representing
approximately 6.80% of the total common shares of Storm Resources.
As a result of this Arrangement and together with securities previously
held by the Funds, the Funds now own 6,094,037 common shares,
representing approximately 15.98% of the total outstanding common
shares of Storm Resources.
The Funds acquired the common shares for investment purposes and may, from time to
time, acquire additional securities of Storm Resources or dispose of
such securities as it may deem appropriate.
Libra is the investment advisor to the Funds and maintains its principal
office at 777 Third Avenue, 27th Floor, New York, New York 10017.
SOURCE Libra Advisors, LLC
For further information:
Mr. Ranjan Tandon, Managing Member, at (212) 350-5125.