LRP V Luxembourg Holdings S.a r.l.

LRP III Luxembourg Holdings S.a r.l.

July 02, 2014 18:00 ET

LRP V Luxembourg Holdings S.a r.l. and LRP III Luxembourg Holdings S.a r.l. Announce Filing of Amended and Restated Early Warning Report Relating to Chinook Energy Inc.

CALGARY, ALBERTA--(Marketwired - July 2, 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 V") and LRP III Luxembourg Holdings S.à r.l. ("LRP III") announce the filing of an Amended and Restated Early Warning Report dated July 2, 2014 to update certain information previously contained in an Early Warning Report relating to Chinook Energy Inc. ("Chinook") and filed by LRP V on June 19, 2014. In particular, the Early Warning Report and related news release dated June 19, 2014 identified LRP V as the owner of common shares of Chinook (the "Shares"), whereas LRP III was in fact the owner of such Shares. Other than in respect of the identity of the holder of the Shares, all other disclosures set forth in the Early Warning Report dated June 19, 2014 and related news release and the Amended and Restated Early Warning Report dated July 2, 2014 and this news release are the same.

On June 18, 2014, LRP III sold 7,000,000 Shares on the facilities of the Toronto Stock Exchange (the "Sale"). LRP III 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 III held 23,114,092 Shares (approximately 10.79% of the issued and outstanding Shares).

Following completion of the Sale, LRP III 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 III would total 16,214,092 Shares, representing approximately 7.57% of the outstanding Shares.

LRP III sold the Shares in the normal course in accordance with its investment objectives. LRP III 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 III has ceased to be an "insider" of Chinook.

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

Contact Information

  • Hille-Paul Schut or Patrick Lauria
    Managers of LRP III
    Telephone: 352 263 02271
    Facsimile: 352 263 02272