TORONTO, Jan. 3, 2018 /CNW/ - Harrington Global Limited ("Harrington") announced that it, on behalf of Harrington Global Opportunities Fund Limited (the "Fund"), which it manages and advises, has acquired 614,500 common shares ("Common Shares") of BNK Petroleum Inc. ("BNK") in the open market at a price of $0.4650 per Common Share (the "Acquisition").
Prior to the Acquisition, the Fund owned 35,608,500 Common Shares. As a result of the Acquisition, the Fund beneficially owns, and Harrington exercises control and direction over, an aggregate of 36,223,000 Common Shares, representing approximately 15.57% of BNK's 232,689,292 issued and outstanding Common Shares as reported in its Management's Discussion and Analysis dated November 9, 2017.
The securities of BNK were acquired in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Harrington, on behalf of the Fund, may from time to time acquire additional securities of BNK, or continue to hold or dispose of some or all of the securities of BNK in the open market, by private agreement or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
SOURCE Harrington Global Limited
For further information: To receive a copy of the early warning report filed in respect of the above transactions, please contact Paul Davis at 1-416-865-7000.