CALGARY, June 17, 2013 /CNW/ - Oryx Petroleum Corporation Limited ("Oryx Petroleum" or the "Corporation") (TSX: OXC) today announces that all of the OXC options issued pursuant to the Pre-IPO Transactions (the "OXC Options") have been exercised, which resulted in the issuance by the Corporation of 1,131,349 common shares of the Corporation at a price of approximately US$9.29 per common share.
All of the OXC Options were held by directors, executive officers or employees of Oryx Petroleum, or by directors of The Addax & Oryx Group Limited. The Corporation received US$10.5 million in proceeds from the exercise of the OXC Options. After giving effect to the exercise of the OXC Options, the directors and executive officers of Oryx Petroleum own approximately 4.4% of the issued and outstanding common shares of the Corporation (approximately 4.6% of the common shares of the Corporation on a fully diluted basis).
ABOUT ORYX PETROLEUM
Oryx Petroleum is an international oil exploration company focused in Africa and the Middle East. The Corporation was founded in 2010 by The Addax and Oryx Group Limited and key members of the former senior management team of Addax Petroleum Corporation. Oryx Petroleum has significant interests in seven license areas prospective for oil and is the operator or technical partner in four of the seven license areas. Three license areas are located in the Kurdistan Region and the Wasit governorate (province) of Iraq and four license areas are located in West Africa in Nigeria, the AGC administrative area offshore Senegal and Guinea Bissau, and Congo (Brazzaville). Further information about Oryx Petroleum is available at www.oryxpetroleum.com or under Oryx Petroleum's profile at www.sedar.com.
SOURCE: Oryx Petroleum Corporation Limited
For further information:
Chief Financial Officer
Tel.: +41 (0) 58 702 93 23
Head of Corporate Finance
Tel.: +41 (0) 58 702 93 52