West Face Announces Withdrawal of Interest in West Face SPV (Cayman) I L.P.

TORONTO, June 2, 2015 /CNW/ - West Face Capital Inc. ("West Face") announced today that West Face Long Term Opportunities Global Master L.P. ("West Face GMF"), a limited partnership managed by West Face, has withdrawn substantially all of its interest in West Face SPV (Cayman) I L.P. ("West Face SPV"), a single purpose limited partnership formed by West Face and West Face GMF together with Gary Guidry, Ryan Ellson, James Evans, Lawrence West and Dulat Zhurgenbay for the purpose of exploring opportunities to replace the directors and management of Gran Tierra Energy Inc. (TSX: GTE) ("Gran Tierra").  Concurrently with West Face GMF's withdrawal, Guidry, Ellson, Evans, West and Zhurgenbay withdrew their entire interest in West Face SPV and West Face, West Face GMF, Guidry, Ellson, Evans, West and Zhurgenbay ended their formal contractual relationship in respect of Gran Tierra.

As a result of the withdrawal of its interest in West Face SPV, beneficial ownership of 24,300,000 shares of common stock of Gran Tierra was transferred by West Face SPV to West Face GMF, representing approximately 8.77% of the total issued and outstanding shares of common stock of Gran Tierra.  Neither West Face nor West Face GMF owns any other securities of Gran Tierra.  West Face SPV no longer beneficially owns any securities of Gran Tierra, as beneficial ownership of all shares of common stock of Gran Tierra owned by West Face SPV has been transferred to West Face GMF, Guidry, Ellson, Evans, West and Zhurgenbay in connection with the withdrawal of their interests in West Face SPV.

West Face GMF intends to enter into a voting commitment with Gran Tierra pursuant to which West Face GMF will agree to vote all of its shares of common stock of Gran Tierra at the annual meeting of stockholders of Gran Tierra to be held on June 24, 2015 in favour of each of the nominees for election as a director of Gran Tierra set forth in Gran Tierra's definitive proxy statement dated May 15, 2015.

West Face GMF expects to review from time to time its investment in Gran Tierra and may, depending on the market and other conditions and factors, acquire additional securities of Gran Tierra or dispose of all or a portion of the securities of Gran Tierra currently owned or controlled by West Face GMF.

An early warning report will be filed in accordance with applicable securities laws.  To obtain a copy of the early warning report, please contact:

Philip Panet
West Face Capital Inc.
2 Bloor Street East
Suite 3000
Toronto, Ontario M4W 1A8
(647) 724-8900

About West Face Capital Inc.

West Face Capital Inc. is one of Canada's leading alternative investment managers. West Face's successful record is based on its seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise and the ability to act on investment targets in domestic and international markets.

Cautionary Statement Regarding Forward-Looking Statements

The information herein may contain "forward-looking statements." Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," "seeks," "could" or the negative of such terms or other variations on such terms or comparable terminology.  Similarly, statements that describe our objectives, plans or goals are forward-looking.  Our forward-looking statements are based on our current intent, belief, expectations, estimates and projections regarding Gran Tierra, and projections regarding the industry in which it operates.  These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to differ materially.  Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

SOURCE West Face Capital Inc.

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