Donald MacDonald

February 04, 2015 19:15 ET

Donald MacDonald Announces Holdings in Artisan Energy Corporation

CALGARY, ALBERTA--(Marketwired - Feb. 4, 2015) - As previously reported in the System for Electronic Disclosure by Insiders, Donald MacDonald announces that he holds ownership over 9,472,050 common shares ("Common Shares") in the capital of Artisan Energy Corporation ("Artisan") and 9,299,380 common share purchase warrants ("Warrants") of Artisan, representing 10.71% of the issued and outstanding Common Shares on a non-diluted basis and 19.20% of the Common Shares on a partially diluted basis after giving effect to the exercise of the common share purchase warrants owned by Mr. MacDonald.

On November 25, 2014, Mr. MacDonald acquired ownership over 9,072,050 Common Shares and 8,899,380 Warrants in private transactions related to Artisan's acquisition of MOGL Corp. ("MOGL") and Spur Energy Corp. ("Spur"), as well as a concurrent non-brokered private placement (the "Private Placement"). On November 28, 2014, in connection with the closing of the final tranche of the Private Placement, Mr. MacDonald acquired ownership over an additional 400,000 Common Shares and an additional 400,000 Warrants.

Consideration received by Mr. MacDonald from Artisan for the acquisition of MOGL consisted of units of Artisan ("Acquisition Units") at a deemed price of $0.25 per Acquisition Unit. Consideration received by Mr. MacDonald from Artisan for the acquisition of Spur consisted of Common Shares at a deemed price of $0.25 per Common Share. Each Acquisition Unit consisted of one Common Share and one common share purchase warrant of Artisan, each warrant entitling the holder thereof to purchase one Common Share at a price of $0.30 per Common Share for a period of one year from November 25, 2014.

The Private Placement involved the issuance of units of Artisan ("Financing Units"), each Financing Unit consisting of one Common Share and one common share purchase warrant, each warrant entitling the holder thereof to purchase one Common Share at price of $0.30 per Common Share from the date of issuance thereof. The Financing Units were issued at a price of $0.25 per Financing Unit.

Mr. MacDonald acquired the securities of Artisan referred to herein for investment purposes. Mr. MacDonald may, in the future, increase or decrease his ownership of securities of Artisan, including pursuant to the exercise of convertible securities depending upon, among other things, the business prospects of Artisan and market conditions.

A copy of Mr. MacDonald's early warning report is available on SEDAR at www.sedar.com.

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