Athos Limited Transfers Common Shares in Calvalley Petroleum Inc.

GENEVA, SWITZERLAND--(Marketwired - Nov. 11, 2014) - Athos Limited (Athos) announces that it has transferred a total of 11,633,296 class A common shares (Common Shares) of Calvalley Petroleum Inc. (Calvalley) and no longer holds any Common Shares of Calvalley. Athos transferred 6,279,088 Common Shares of Calvalley to Stefan Chaligné and 5,354,208 Common Shares of Calvalley to the joint account of Jean-Claude Chaligné and Maria Chaligné (the Transaction). Athos transferred the Common Shares on November 5, 2014 in relation to the reimbursement for the Athos shareholders' account. The transfer of Common Shares was done at a deemed price of $1.21 per Common Share, however, no direct consideration was paid by Stefan Chaligné, Jean-Claude Chaligné or Maria Chaligné. As a result of the Transaction, Stefan Chaligné now directly holds 9,279,088 Common Shares of Calvalley representing approximately 11.93% of the issued and outstanding Common Shares of Calvalley. Stefan Chaligné and Jean-Claude Chaligné are the only shareholders of Athos.

For a copy of the early warning report to be filed in respect of the above transaction, please refer to the SEDAR profile of Calvalley or contact: