CALGARY, June 18, 2014 /CNW/ - Canadian International Oil Corp ("CIOC" or the "Company") is pleased to announce that its largest shareholder, Riverstone Holdings LLC ("Riverstone"), an energy focused private equity firm, and a current partner with CIOC, has increased its ownership in the Company through its participation in a secondary sale of shares sold by a group of CIOC's existing institutional investors.
Scott Sobie, Chief Executive Officer, commented, "This transaction reflects the commitment of Riverstone to our growth plans and we are extremely pleased to be partnered with such an astute energy investor."
The secondary sale was facilitated by TD Securities Inc. and KES 7 Capital Inc. The Company did not receive any proceeds from the offering.
About Canadian International Oil Corp.
CIOC is a private oil and gas developer with its corporate headquarters in Calgary, AB and operations in the Alberta Deep Basin where it is developing a multi-zone, liquids rich gas and oil play.
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $27 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed approximately $26.0 billion to 108 investments in North America, Latin America, Europe, Africa and Asia.
SOURCE: Canadian International Oil Corp.
For further information: For Canadian International Oil Corp.: Scott W. Sobie, President and Chief Executive Officer, (403) 930-0560; For Riverstone Holdings LLC: James David or Jeffrey Taufield, Kekst and Company, (212) 521-4800