BUENOS AIRES, Argentina, Aug. 8, 2017 /CNW/ - Pursuant to the early warning requirements of applicable Canadian securities laws, Liminar Energía S.A. ("Liminar"), a private Argentine holding company, announces that on August 4, 2017 it acquired ownership and control of 6,000,000 common shares ("Common Shares") of Crown Point Energy Inc. ("Crown Point"), representing approximately 3.6% of the issued and outstanding Common Shares, at a purchase price of US$0.1595985 per share (Cdn$0.200743 per share based on the daily exchange rate published by the Bank of Canada of US$1.00 = Cdn$1.2578 on August 3, 2017) for total consideration of US$957,591 (Cdn$1,204,458). The Common Shares were acquired pursuant to the terms of a purchase and sale agreement dated August 4, 2017 between Liminar (as purchaser) and GORC S.A. (as vendor).
Prior to giving effect to the acquisition, Liminar owned and controlled an aggregate of 54,000,000 Common Shares, representing approximately 32.8% of the issued and outstanding Common Shares. After giving effect to the acquisition, Liminar owns and controls an aggregate of 60,000,000 Common Shares, representing approximately 36.5% of the issued and outstanding Common Shares.
The acquisition of the Common Shares was made in furtherance of Liminar's investment objectives. Liminar may, from time to time, as market opportunities exist or develop, increase or decrease its ownership in Common Shares as permitted by applicable securities laws.
SOURCE Liminar Energia
For further information: OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT: Liminar Energía S.A., Av. Corrientes 1174, 10th Floor (C1043AAY), City of Buenos Aires, Argentina, Attention: Juan Llado, Telephone: +54 11 (5235) 2804; Crown Point Energy Inc., PO Box 1562 Station M, Calgary, Alberta T2P 3B9, Attention: Marisa Tormakh, Vice-President, Finance and Chief Financial Officer, Telephone: (403) 232-1150