March 01, 2017 12:21 ET
CALGARY, ALBERTA--(Marketwired - March 1, 2017) - Kulczyk Investments S.A. ("KI") announces that it has acquired 38,693,049 common shares ("Serinus Shares") of Serinus Energy Inc. ("Serinus") pursuant to a public offering of an aggregate of 72,000,000 Serinus Shares at a price of CAD$0.35 per Serinus Share completed by Serinus on February 24, 2017 (the "Offering").
Prior to the Offering, 39,909,606 Serinus Shares, representing, in aggregate, approximately 50.77% of the issued and outstanding Serinus Shares, were held by KI and following the Offering 78,602,655 Serinus Shares, representing, in aggregate, approximately 52.18% of the issued and outstanding Serinus Shares, are held by KI.
KI agreed to purchase the Serinus Shares to help Serinus fund its ongoing activities. KI may in the future purchase or dispose of Serinus Shares from time to time. The Serinus Shares issued pursuant to the Offering are listed on the Toronto Stock Exchange.
As the Serinus Shares were acquired by KI pursuant to the issuance of Serinus Shares from treasury pursuant to the Offering, the requirements in Part 2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids do not apply to the acquisition.
An early warning report relating to the matters discussed herein has been filed on Serinus' profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. A copy of the early warning report can also be obtained by contacting:
Kulczyk Investments S.A35, avenue MontereyL-2163 LuxembourgLuxembourg352-27-20-30-20
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