TORONTO, April 4, 2012 /CNW/ - Seymour Schulich, through his holding company Nevada Capital Corporation Ltd., 20 Eglinton Avenue West, Suite 1900, Toronto, Ontario, M4R 1K8, announced today that he has purchased 2,000,000 common shares of Birchcliff Energy Ltd. (TSX: BIR) (the "Company") through the facilities of the Toronto Stock Exchange.
As a result of this purchase, Mr. Schulich currently owns or exercises control and direction over 35,000,000 common shares of the Company. Mr. Schulich's current shareholdings represent approximately 27.6% of the current issued and outstanding common shares of the Company. Mr. Schulich has further advised the Company that he has acquired the additional 2,000,000 common shares for investment purposes. Mr. Schulich has agreed to acquire an additional 5 million common shares of Birchcliff at $7.65 per common share by way of a Private Placement of treasury shares.
For further information:
Seymour Schulich, (416) 480-6483