Scott Lamacraft

January 07, 2015 20:30 ET

Scott Lamacraft Files Early Warning Report

TORONTO, ONTARIO--(Marketwired - Jan. 7, 2015) - Scott Lamacraft (the "Offeror") today acquired (the "Acquisition") an aggregate of 720,000 common shares (the "Acquired Shares") of Valeura Energy Inc. (the "Corporation") representing approximately 1.2% of the issued and outstanding common shares of the Corporation (the "Shares"), through the facilities of the Toronto Stock Exchange. The Acquired Shares were purchased at a cash price of $0.41 per Acquired Share.

As of the date hereof, after giving effect to the Acquisition, the Offeror owns, or exercises control or direction over, 8,499,100 Shares, representing approximately 14.7% of the issued and outstanding Shares on a non-diluted basis.

The Acquired Shares were purchased for investment purposes. The Offeror has a long-term view of the investment and does not intend at this time to acquire additional Shares, but may increase his shareholdings of the Corporation in the future depending on market conditions, reformulation of plans and/or other relevant factors.

In this press release, for the purpose of calculating the percentage of Shares owned, or controlled or directed, the Offeror has assumed that there are 57,906,135 Shares issued and outstanding as of the date hereof, as reported by the Corporation in its most recently filed management's discussion and analysis as at September 30, 2014.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting the Offeror at 416.362.7485.

The Toronto Stock Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this press release.

Contact Information

  • Offeror
    416.362.7485