Grupo Tierra Nueva LLC

Omega S.A.

December 08, 2015 18:52 ET

Grupo Tierra Nueva LLC and Omega S.A.: Joint Press Release

KEY BISCAYNE, FLORIDA--(Marketwired - Dec. 8, 2015) - Grupo Tierra Nueva LLC ("Grupo"), a State of Florida incorporated company, and Omega S.A. ("Omega") a Guatemala incorporated company, today announced that pursuant to the closing of the acquisition (the "Acquisition") by Columbus Exploration Corporation ("Columbus Exploration") of all of the issued and outstanding share capital of Agricola Nuova Terra Guatemala, S.A. ("Agricola") from six selling shareholders of Agricola pursuant to a share exchange that closed effective November 30, 2015, as described in Columbus Exploration's news release dated December 3, 2015, Grupo as a selling shareholder of Agricola acquired direct ownership and control over 11,614,441 common shares of Columbus Exploration (the "Grupo Shares"), representing 16.00% of the issued and outstanding share capital of Columbus Exploration. Omega, as another selling shareholder of Agricola, acquired direct ownership and control over 10,000,000 common shares of Columbus Exploration (the "Omega Shares"), representing 13.77% of the issued and outstanding share capital of Columbus Exploration.

On closing of the Acquisition (the "Closing"), Columbus Exploration issued an aggregate of 48,228,882 common shares to the selling shareholder of Agricola at a deemed price of CDN$0.20 per share.

Grupo and Omega are each controlled by Andres Arturo Eduardo Bickford. Mr. Bickford was appointed as a Director and Chief Operating Officer of Columbus Exploration effective immediately after Closing.

Prior to the Closing, Grupo, Omega and Bickford did not own or control, directly or indirectly, any securities of Columbus Exploration. In consideration for the issuance of the Grupo Shares and the Omega Shares, Columbus Exploration acquired 57,907 Class A shares of Agricola from Grupo, representing 25.12% of the 230,485 Class A shares of Agricola issued and outstanding on Closing, and 49,857 Class A shares of Agricola from Omega, representing 21.63%.

Grupo has ownership and control over a total of 11,614,441 Columbus Exploration common shares following closing of the Acquisition, and Omega has ownership and control over 10,000,000 Columbus Exploration common shares. In addition, Bickford, the control person of Grupo, was granted a total of 600,000 stock options under the incentive stock option plan of Columbus Exploration on closing of the Acquisition. Bickford, Grupo and Omega may acquire or dispose of Columbus Exploration securities from time to time in the future.

Contact Information

  • Grupo Tierra Nueva LLC
    Arturo Bickford
    011 502 2369 8693

    Omega S.A.
    Arturo Bickford
    011 502 2369 8693