Tricap Partners II LP

November 05, 2009 17:38 ET

Tricap Partners II LP-Early Warning Press Release

CALGARY, ALBERTA--(Marketwire - Nov. 5, 2009) –

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Pursuant to the previously announced rights offering (the "Rights Offering") by Central Alberta Well Services Corporation (the "Corporation"), Tricap Partners II L.P. ("Tricap") has received 16,876,136 rights in respect of the 16,876,136 common shares ("Common Shares") of the Corporation currently held by Tricap, which represents approximately 62.07% of the Common Shares currently outstanding. Each right entitles the holder thereof to subscribe for 4.855 Common Shares at a price of $0.25 per share. In connection with the Rights Offering, Tricap and the Corporation have entered into a Standby Purchase Agreement pursuant to which the Corporation has agreed to sell and Tricap has agreed, subject to certain terms, conditions and limitations, to purchase all of the Common Shares not otherwise purchased pursuant to the exercise of rights under the Rights Offering at a price of $0.25 per Common Share. Pursuant to Tricap's commitment under the Standby Purchase Agreement, following completion of the Rights Offering, Tricap could own up to 148,876,136 Common Shares, representing up to approximately 93.52% of the then issued and outstanding Common Shares.

NOTE: The statements in this press release concerning our future intentions regarding the Fund's investment in Second Wave Petroleum Inc. Common Shares may contain forward-looking information and other "forward-looking statements", within the meaning of certain securities laws including Section 27A of the Securities Act of 1933, as amended, Section 21 E of the Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. We may make such statements in this release, in other filings with Canadian regulators or the SEC or in other communications. The reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors.

 When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management Inc., investors and others should carefully consider the risks and factors detailed from time to time in the company's form 40-F filed with the Securities and Exchange Commission as well as other documents filed by the company with the securities regulators in Canada and the United States including in the Annual Information Form under the heading "Business Environment and Risks" and other uncertainties and potential events. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • For a copy of the early warning report filed in
    respect of the above transaction, please contact:
    Tricap Partners II LP
    Jim Reid
    (403) 770-7215
    jreid@brookfield.com