Americas Petrogas Inc.
TSX VENTURE : BOE

Americas Petrogas Inc.

July 08, 2015 09:00 ET

Americas Petrogas Board of Directors Confirms Its Support for Proposed Transaction With Tecpetrol

CALGARY, ALBERTA--(Marketwired - July 8, 2015) - Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) acknowledges the public statement issued July 6, 2015 by Horizon Capital Management Inc. ("Horizon") in respect of the proposed acquisition by Tecpetrol International S.A. and Tecpetrol Internacional S.L. (Unipersonal) of all of the issued and outstanding common shares of the Company's wholly-owned subsidiary, Americas Petrogas Argentina S.A. (the "Transaction"). The board of directors of the Company (the "Board"), following a meeting to discuss the public statement by Horizon, has confirmed its determination that the Transaction is fair, from a financial point of view, to the shareholders of the Company and that the Transaction continues to be in the best interests of the Company and its shareholders.

The Board continues to unanimously recommend that shareholders of the Company vote FOR the special resolution approving the Transaction to be considered at the annual and special meeting of shareholders (the "Meeting") scheduled to be held at the Bow Valley Club, Suite 370, 250 - 6th Avenue S.W., Calgary, Alberta, Canada, at 9:00 a.m. (Calgary time) on July 29, 2015.

Shareholders are encouraged to refer to the management information circular of the Company dated June 29, 2015 (the "Circular") in respect of the Meeting, which was filed and is available on SEDAR at www.sedar.com. Details of the reasons for the Transaction and why the Transaction is in the best interests of the Company and its shareholders are contained in the Circular. Details on how to attend the Meeting or to submit a proxy are included in the Circular.

Americas Petrogas disagrees with Horizon's assessment of the Transaction and is preparing a public response to matters raised in Horizon's public statement which is expected to be provided shortly.

About Americas Petrogas Inc.

Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquén Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil and YPF, on various blocks in the shale oil and gas corridor in the Neuquén Basin, Argentina. Americas Petrogas and Indian Farmers Fertiliser Co-operative Limited (IFFCO) own GrowMax Agri Corp., a private company involved in the exploration for near-surface phosphates, potash and other minerals, and potential development of a fertilizer project in Peru.

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