BOGOTA, Colombia, April 19, 2017 /CNW/ - Orinoquia Capital, Ltd. (the Company) is pleased to announce that on April 4, 2017 it acquired 25,100,000 common shares (each, a Common Share) of PMI Resources Ltd. (PMI). PMI's head office is located at Suite 3123, 595 Burrard Street, Vancouver, British Columbia, V7X 1J1.
On April 4, 2017, a wholly-owned subsidiary of PMI amalgamated with PentaNova Energy Corp. (PentaNova) by way of a merger pursuant to the British Virgin Islands Business Company Act (the Merger). Pursuant to the Merger, each outstanding share of PentaNova was cancelled in exchange for an entitlement to receive shares in PMI (on a one for one basis). The Company received 25,100,000 Common Shares pursuant to the Merger, representing approximately 13.74% of the issued and outstanding Common Shares upon completion of the Merger. Immediately prior to the completion of the Merger, the Company owned no Common Shares.
The Company acquired the Common Shares for investment purposes. The Company will evaluate its investment in PMI from time to time and may, based on such evaluation, market conditions and other circumstances, acquire further Common Shares or other securities of PMI or dispose of its holdings of securities of PMI.
The Company's registered office is located at 2nd Floor, O'Neal Marketing Associates Building, P.O. Box 4493, Road Town, Tortola, British Virgin Islands, VG1110.
SOURCE PMI Resources Ltd.
For further information: For further information, including a copy of the early warning report required under applicable Canadian securities laws to be filed by the Company as a result of the transaction referred to in this press release, please contact Laureano von Siegmund at Calle 93 No. 11A - 28, Edificio Capital Park 93, Ofic. 802, Bogotá, Colombia Phone +(57-1) 236-33-49 / +(57-1) 744 25-00.