CALGARY, April 28 /CNW/ - The Absolute Resource Company L.P.
("Absolute") announces that is has acquired ownership and control of
3,429,500 units ("Units") of Trafina Energy Ltd. (the "Trafina"),
comprised of 3,429,500 Class A common shares ("Common Shares") of
Trafina and 3,429,500 Common Share purchase warrants ("Warrants") at a
price of $0.35 per Unit pursuant to a public offering (the "Offering")
on April 21, 2011. Each Warrant issued pursuant to the Offering will
entitle the holder thereof to acquire one Common Share at a price of
$0.45 per share on or before October 21, 2012. Immediately following
the Offering, Absolute had direct ownership and control of 6,799,500
Common Shares which represents approximately 12% of the issued and
outstanding Common Shares. Assuming the exercise of all of the
Warrants issued by Trafina pursuant to the Offering, Absolute would
have direct ownership of 10,229,000 Common Shares which would
represent approximately 13% of the then issued and outstanding Common
Shares. The Units acquired by Absolute pursuant to the Offering were
purchased for an aggregate cash consideration of $1,200,325.
The securities of Trafina were purchased by Absolute for investment
purposes. Subject to market conditions and its ongoing evaluation of
its investment in Trafina, Absolute, by its investment manager and
portfolio manager Mackie Research Capital Corporation, may make
additional investments in or dispositions of securities of Trafina,
including additional purchases or sales of Common Shares or share
purchase warrants, as applicable.
For a copy of the early warning report to be filed in respect of the
above transaction, please refer to the SEDAR profile of Trafina or
SOURCE The Absolute Resource Company L.P.
For further information:
The Absolute Resource Company L.P.
by its Investment Manager and Portfolio Manager
Mackie Research Capital Corporation
1550, 335-8th Avenue SW
Calgary, Alberta T2P 1C9