Liminar Energia S.A.

March 03, 2015 12:37 ET

Liminar Acquires Additional Shares of Crown Point

BUENOS AIRES, ARGENTINA--(Marketwired - March 3, 2015) - Pursuant to the early warning requirements of applicable Canadian securities laws, Liminar Energía S.A. ("Liminar"), a private Argentine company, announces that on February 27, 2015, it acquired ownership and control of 3,210,640 common shares ("Common Shares") of Crown Point Energy Inc. ("Crown Point") at an issue price of US$0.25 per share (Cdn$0.313 per share based on the closing exchange rate of the Bank of Canada of US$1=Cdn$1.2527 on February 26, 2015). After giving effect to the acquisition, Liminar owns and controls an aggregate of 29,176,344 Common Shares, representing approximately 21.8% of the issued and outstanding Common Shares. The Common Shares were acquired pursuant to the terms of an investment agreement dated November 16, 2014, as amended and restated (the "Investment Agreement"), pursuant to which Liminar and GORC S.A. agreed to acquire (either individually or together) an aggregate of 25,965,704 Common Shares at an issue price of US$0.25 per share pursuant to an initial closing of Common Shares which was completed on December 19, 2014 and, subject to the satisfaction or waiver of certain conditions as set forth therein, an additional 34,034,296 Common Shares (inclusive of the 3,210,640 Common Shares described herein) at an issue price of US$0.25 per share pursuant to one or more subsequent closings of Common Shares. The purchase was made in furtherance of Liminar's investment objectives. Liminar may, from time to time, as market opportunities exist or develop, increase or decrease its beneficial ownership in Common Shares as permitted by applicable securities laws and otherwise in accordance with the terms of the Investment Agreement.

In connection with the closing, Liminar paid the purchase price, being US$802,660, in Argentine pesos based on the US dollar - Argentine peso exchange rate of Banco de la Nación Argentina at the close of business on February 26, 2015 (being US$1=ARS$8.721).

The issuance of this news release is not an admission that an entity or individual named herein owns or controls any described securities or is a joint actor with another named entity or individual.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:

Liminar Energía S.A.
Av. Corrientes 1174, 10th Floor (C1043AAY)
City of Buenos Aires, Argentina
Attention: Marisa Tormakh
Telephone: +54 11 (5235) 2879

Contact Information

  • Liminar Energia S.A.
    Marisa Tormakh
    +54 11 (5235) 2879