Pelicourt Ltd.

September 27, 2013 08:30 ET

Pelicourt Ltd. Acquires Common Shares of Cub Energy Inc.

ATHENS, GREECE--(Marketwired - Sept. 27, 2013) -

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

Pelicourt Ltd. ("Pelicourt") announces that it acquired 62,000 common shares of Cub Energy Inc. ("Cub"), representing less than one percent (0.0002%) of Cub's issued and outstanding common shares, on September 25, 2013, in the open market.

With this acquisition, Pelicourt owns 123,340,089 common shares of Cub, representing approximately 39.5% of the issued and outstanding common shares of the Company. Two of Pelicourt's owners are involved in Cub's day-to-day operations: Mikahil Afendikov, 31% owner of Pelicourt, is Cub's Chairman and Chief Executive Officer; and Robert Bensh, 7% owner of Pelicourt, is Cub's Senior Advisor.

Pelicourt has advised Cub that they acquired the additional common shares for investment purposes. The common shares will be acquired through the facilities of the TSX Venture Exchange.

Pelicourt will file an early warning report under National Instrument 62-103, describing the above acquisition. The report will be available with Cub's documents filed at www.sedar.com. In addition, a copy of the report may be obtained from Mikhail Afendikov, telephone +30 694 4518940.

Contact Information

  • Mikhail Afendikov
    +30 694 4518940