Petrichor Energy Inc.

Petrichor Energy Inc.

April 11, 2012 19:57 ET

Early Warning Under National Instrument 62-103

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 11, 2012) -

In accordance with National Instrument 62-103, Mr. Joe DeVries (the "Offeror") announces that on April 10, 2012 he directly acquired 10,000 shares of Petrichor Energy Inc. (TSX VENTURE:PTP) (the "Company") at a price of $0.26 per share in the public market through the facilities of the TSX Venture Exchange (the "Acquisition"). The Offeror has control over the acquisition and disposition of any shares owned by the Offeror.

Immediately prior to the Acquisition, the Offeror had direct beneficial ownership of 1,621,662 common shares and indirect control and ownership of 603,366 common shares for a total of 2,225,028 common shares, representing approximately 13.9% of the issued and outstanding shares of the Company.

The Offeror also holds stock options entitling him to purchase up to 200,000 common shares of the Company at an exercise price of $0.185 per share, expiring October 10, 2016 (the "Options"), and warrants entitling him to purchase up to 800,000 common shares of the Company at $0.35 per share, with expiry dates ranging from April 3, 2013 to April 8, 2013 (600,000 of which remain subject to a hold period expiring August 10, 2012) (the "Warrants").

Assuming the Options and Warrants are not exercised, the Offeror directly and indirectly owns and controls a total of 2,235,028 common shares of the Company, representing approximately 14% of the current issued shares of the Company. Assuming exercise of the Options and Warrants, the Offeror would hold 3,235,028 common shares, representing approximately 19.1% of the then issued and outstanding shares of the Company.

The above securities were acquired by the Offeror for investment purposes only. The Offeror may acquire additional securities of the Company for investment purposes. This press release is being issued pursuant to National Instrument 62-103.

Joe DeVries, Offeror

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Joe DeVries
    (604) 718-2800
    (604) 718-2808 (FAX)