TORONTO, April 23 /CNW/ - West Face Capital Inc. ("West Face") announced
that on April 23, 2009 West Face acquired, on behalf of certain funds and
other accounts managed by West Face ("Managed Accounts"), 9,500,000 common
shares ("Shares") of UTS Energy Corporation ("UTS") through the facilities of
Immediately after this acquisition, West Face owns, or exercises control
or direction over, on behalf of the Managed Accounts, an aggregate of
68,236,400 Shares representing approximately 14.39% of the issued and
outstanding Shares of UTS.
Including the Shares acquired on April 23, West Face has acquired, on
behalf of the Managed Accounts, a total 20,373,800 Shares since commencement
of the bid for UTS by Total E&P Canada Ltd. on January 29, 2009.
The Shares were acquired and are being held for investment purposes.
Depending on market and other conditions, West Face may from time to time in
the future increase or decrease its ownership, control or direction over the
Shares or other securities of UTS, for its own account or for the Managed
Accounts, through market transactions, private agreements or otherwise.
For further information:
For further information: Gregory Boland, 2 Bloor Street East, Suite 810,
Toronto, ON, M4W 1A8, Tel: (647) 724-8900