Bengal Energy Ltd.
TSX : BNG

Bengal Energy Ltd.

September 22, 2010 21:35 ET

Cavendish Investing Ltd. Announces Acquisition of 3,000,000 Common Shares of Bengal Energy Ltd.

CALGARY, ALBERTA--(Marketwire - Sept. 22, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Cavendish Investing Ltd. ("Cavendish") announces that on September 21, 2010 it acquired 3,000,000 common shares ("Purchased Shares") of Bengal Energy Ltd. ("Bengal") (TSX:BNG) at a price of $1.00 per share in connection with a short form prospectus offering (the "Prospectus Offering") of Bengal pursuant to a final short form prospectus dated September 14, 2010. After giving effect to the common shares issued pursuant to the Prospectus Offering, the Purchased Shares represent approximately 10.85% of the outstanding common shares of Bengal.

Following completion of the acquisition of the Purchased Shares, Cavendish holds 3,000,000 common shares representing approximately 10.85% of the outstanding common shares of Bengal. 

Cavendish acquired the Purchased Shares for investment purposes. Cavendish may in the future take such actions in respect of its shareholdings in Bengal as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of Bengal through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.

A copy of Cavendish's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting R. A.N. Bonnycastle, at: Telephone: (403) 269-6795 or Facsimile: (403) 265-2887.

Contact Information

  • R. A.N. Bonnycastle
    (403) 269-6795
    (403) 265-2887