D. E. Shaw Laminar International, Inc.

August 29, 2007 16:30 ET

D. E. Shaw Laminar International, Inc.: News Release

NEW YORK, NEW YORK--(Marketwire - Aug. 29, 2007) - D. E. Shaw Laminar International, Inc. ("Laminar International") announces that it acquired ownership and control over 17,300,000 common shares ("Shares") in the capital of GFI Oil & Gas Corporation (TSX VENTURE:GFI) (the "Issuer"), representing approximately 10.42% of the Issuer's issued and outstanding Shares as of the date of this press release.

Laminar International acquired the Shares by private placement on November 28, 2006. Immediately after the private placement, Laminar International acquired ownership and control over 17,300,000 Shares representing approximately 12.18% of the Issuer's issued and outstanding Shares.

D. E. Shaw & Co., L.P. ("DESCO LP") is the investment adviser of Laminar International, which is the registered and beneficial owner of the Shares. In its capacity as investment adviser, DESCO LP may be deemed to exercise control and direction over the Shares.

D. E. Shaw Laminar Portfolios, L.L.C. ("Laminar Portfolios") is the sole shareholder of Laminar International and may be deemed to have beneficial ownership of the Shares.

Laminar International purchased the Shares in the ordinary course of business and not with the purpose nor with the effect of changing or influencing the control of the Issuer, nor in connection with or as a participant in any transaction having such purpose or effect. Laminar International may in the future, subject to market conditions, make additional investments in or dispositions of the Issuer's securities.

For the purposes of this news release, the following entities may be considered joint actors: Laminar International, Laminar Portfolios and DESCO LP. The filing of this report is not an admission that any entity named in this report is a joint actor with another named entity.

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

Contact Information

  • D. E. Shaw Laminar International, Inc.
    Compliance Department
    (212) 478-1516
    (212) 845-1516 (FAX)