TORONTO, Oct. 10, 2012 /CNW/ - Scott Lamacraft (the "Offeror") today acquired an aggregate of 3,845,000 common shares (the "Shares") of Valeura Energy Inc. (the "Corporation"). The Shares were acquired at a price of $1.30 per Share for aggregate consideration of $4,998,500 in connection with a prospectus offering of Shares of the Corporation (the "Prospectus Offering") pursuant to a (final) short form prospectus of the Corporation dated October 2, 2012 (the "Prospectus"). As of the date hereof, after giving effect to the Prospectus Offering, the Offeror owns, or exercises control or direction over, 6,679,100 Shares, representing approximately 11.5% of the issued and outstanding Shares on a non-diluted basis.
The Offeror acquired the Shares that are the subject of this press release for investment purposes. However, the Offeror may, depending on various factors including, without limitation, market and/or other conditions, increase or decrease his ownership, control or direction over Shares.
In this press release, for the purpose of calculating the percentage of Shares owned, the Offeror has assumed that there are 57,906,135 Shares issued and outstanding as of the date hereof, as reported by the Corporation in the Prospectus as at June 30, 2012 after giving effect to the Prospectus Offering (without giving effect to the over-allotment option granted to the underwriters).
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 also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting the Offeror at 416.362.7485.
The Toronto Stock Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this press release.
SOURCE: Scott Lamacraft