LRP V Luxembourg Holdings S.a r.l.

June 19, 2014 11:33 ET

LRP V Luxembourg Holdings S.à r.l. Announces Sale of Common Shares of Chinook Energy Inc.

CALGARY, ALBERTA--(Marketwired - June 19, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

LRP V Luxembourg Holdings S.à r.l. ("LRP") announces that it sold 7,000,000 common shares (the "Shares") of Chinook Energy Inc. ("Chinook") on the facilities of the Toronto Stock Exchange (the "Sale"). LRP sold the Shares at a price of $2.45 CAD per share, for an aggregate sale price of $17,150,000 CAD. The Shares sold represent approximately 3.27% of the outstanding Shares. Prior to the Sale, LRP held 23,114,092 Shares (approximately 10.79% of the issued and outstanding Shares).

Following completion of the Sale, LRP held 16,114,092 Shares representing approximately 7.52% of the outstanding Shares.

Mr. Townes Pressler ("Mr. Pressler"), a Managing Director of Lime Rock Partners, in his former capacity as a member of the Board of Directors of Chinook, holds an aggregate of 100,000 options to purchase Shares ("Options"). In the event all Options held by Mr. Pressler were exercised for Shares, the Shares owned by Mr. Pressler together with the Shares owned by LRP would total 16,214,092 Shares, representing approximately 7.57% of the outstanding Shares.

LRP sold the Shares in the normal course in accordance with its investment objectives. LRP may in the future take such actions in respect of its shareholdings in Chinook as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of Chinook through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers. As a result of the foregoing sale, LRP has ceased to be an "insider" of Chinook.

A copy of LRP's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Hille‐Paul Schut or Patrick Lauria, the Managers of LRP at: Telephone: 352 263 02271 and Facsimile: 352 263 02272.

Contact Information

  • Hille Paul Schut or Patrick Lauria
    Managers of LRP
    352 263 02271
    352 263 02272 (FAX)