Harrington Global Limited

July 26, 2016 17:17 ET

Harrington Global Disposes of Common Shares of Cub Energy Inc.

TORONTO, ONTARIO--(Marketwired - July 26, 2016) - Harrington Global Limited ("Harrington") announced that it, on behalf of Harrington Global Opportunities Fund S.à.r.l., which it manages and advises (the "Fund"), has disposed of an aggregate of 25,000,000 common shares ("Common Shares") of Cub Energy Inc. ("Cub"), representing approximately 8.02% of Cub's outstanding shares, at an average price of $0.0265 per share (or an aggregate amount of $662,500) in the open market.

As a result of the transaction noted above, the Fund beneficially owns, and Harrington exercises control and direction over, an aggregate of 37,108,810 Common Shares, representing approximately 11.90% of Cub's 311,746,285 issued and outstanding Common Shares.

The Common Shares were disposed of in the ordinary course of business, for investment purposes only. Depending on market conditions and other factors, Harrington, on behalf of the Fund, may from time to time acquire additional securities of Cub, or continue to hold or dispose of some or all of the securities of Cub in the open market, by private agreement or otherwise.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.

Contact Information

  • For additional information, or for a copy of the early
    warning report filed in respect of the above transactions:
    Daniel Guy