Tricap Partners Ltd.

July 28, 2009 13:40 ET

Tricap Partners Acquires 1.2 Million Common Shares of Insignia Energy

CALGARY, ALBERTA--(Marketwire - July 28, 2009) - Tricap Partners Ltd. ("Tricap") announced today that it has acquired 1,190,000 common shares of Insignia Energy Ltd. (TSX VENTURE:ISN) ("ISN") (the "Corporation") as a result of the business combination between the Corporation and Grey Wolf Exploration Inc. ("Grey Wolf") which was completed pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Pursuant to the Arrangement, each common share of Grey Wolf was exchanged for 0.34 of a common share of the Corporation. Prior to the completion of the Arrangement, Tricap owned 3,500,000 common shares of Grey Wolf.

As a result of this transaction, Tricap holds 12,483,128 Common Shares of the Corporation, representing approximately 40.7% of the currently issued and outstanding Common Shares.

Tricap acquired the common shares of Grey Wolf (which were exchanged for the Common Shares of the Corporation) for investment purposes only. Tricap intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Corporation, subsequent developments affecting the Corporation or its business, and general market and economic conditions. Based upon these and other factors, Tricap may decide to purchase additional securities of the Corporation or may decide in the future to sell all or part of its investment.

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please contact:

Jim Reid
Tricap Partners Ltd.
Suite 1700, 335-8th Avenue SW
Calgary Alberta T2P 1C9
tel: (403) 770-7215

Tricap Partners Ltd. was established by Brookfield Asset Management to provide a source of patient, long-term capital and strategic assistance to mid-market companies based in North America. With strong industry and financial management expertise, Tricap is well positioned to assist companies in building value over the long term.

NOTE: This press release contains forward-looking information and other "forward-looking statements" within the meaning of certain securities laws including Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words "will" and "expected" and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Although Tricap believes that the anticipated actions expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors which may cause the actual outcome to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions; the behaviour of financial markets including fluctuations in interest and exchange rates. We caution that the foregoing list of important factors that may affect future results is not exhaustive. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • Tricap Partners Ltd.
    Jim Reid
    (403) 770-7215