Argosy Energy Inc.
TSX : GSY

Argosy Energy Inc.

April 29, 2011 16:36 ET

Argosy Energy Inc. Announces Acceleration of Warrants

CALGARY, ALBERTA--(Marketwire - April 29, 2011) - ARGOSY ENERGY INC. ("Argosy" or the "Corporation") (TSX:GSY), is pleased to announce that the weighted average trading price of its common shares on the Toronto Stock Exchange was greater than $3.00 for the 20 consecutive trading days from March 31, 2011 to April 28, 2011, inclusive, constituting an Acceleration Event under the warrant indenture (the "Warrant Indenture") dated December 29, 2009 between the Corporation and Valiant Trust Company ("Valiant") providing for the issuance of up to 2,447,222 common share purchase warrants ("Warrants").

In accordance with the terms of the Warrant Indenture, the Corporation is preparing the required form of notice of the Acceleration Event which will be delivered to Valiant and to the holders of Warrants. Holders of Warrants will have until May 13, 2011, being the date that is 14 days after the date of such notice, to exercise their Warrants. Each Warrant entitles the holder thereof to purchase one common share of the Corporation at a price of Cdn. $2.25 and there are currently 1,341,234 Warrants issued and outstanding. Any warrants not exercised by May 13, 2011 will be cancelled.

Contact Information

  • Argosy Energy Inc.
    Mr. Peter Salamon
    President and CEO
    (403) 269-8846

    Argosy Energy Inc.
    Mr. Tom Dalton
    Vice President Finance and CFO
    (403) 269-8846

    Argosy Energy Inc.
    2100, 500 – 4th Avenue S.W.
    Calgary, Alberta
    investor@argosyenergy.com
    www.argosyenergy.com