Lorito Holdings S.a.r.l.

November 16, 2009 07:00 ET

Lorito Holdings S.a.r.l., Zebra Holdings and Investments S.a.r.l.: Acquisition of Etrion Shares by Lundin Family Trusts

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2009) - Lorito Holdings S.a.r.l. ("Lorito") and Zebra Holdings and Investments S.a.r.l. ("Zebra"), investment companies owned by trusts whose beneficiaries are members of the family of the late Adolf Lundin, (together, the "Buyers"), each with an address of 19 rue Eugene-Ruppert, L-2453 Luxembourg, announced that they have acquired (the "Acquisition") in the aggregate 6,283,502 common shares of Etrion Corporation, formerly PetroFalcon Corporation, ("Etrion" or the "Company") (TSX:ETX), at a price of CDN$0.54 per share (or CDN$3,393,091 in the aggregate) in a private transaction.

The 6,283,502 shares acquired by the Buyers represent approximately 3.96% of the Company's issued and outstanding common shares. Lorito and Zebra now own and control a total of 19,736,352 common shares of Etrion representing approximately 12.45% of the issued and outstanding common shares of the Company.

Pursuant to the Acquisition, Lorito acquired an additional 2,344,251 shares representing approximately 1.48% of the issued and outstanding common shares of the Company and currently holds 4,920,751 shares representing approximately 3.10% of the issued and outstanding common shares of the Company. Zebra acquired an additional 3,939,251 shares representing approximately 2.49% of the issued and outstanding common shares of the Company and currently holds 14,815,601 common shares of the Company representing approximately 9.35% of the issued and outstanding shares of the Company.

The Buyers acquired the shares for investment purposes. Each of Lorito and Zebra may in the future increase or decrease their respective ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.

An early warning report (the "EWR") will be filed on SEDAR and will be available for review at www.sedar.com under the Company's profile. A copy of the EWR can be obtained from the contact below.

Contact Information

  • Mr. Aksel Azrac
    +41 (0) 22 595 1875
    +41 (0) 22 595 1800 (FAX)