NEW YORK, April 18, 2018 (GLOBE NEWSWIRE) -- Cantor Fitzgerald & Co., a leading financial services firm, today announced that it has acquired 12,843,841 common shares (“Common Shares”) of Connacher Oil and Gas Limited (“Connacher”) and US$19,260,783 principal amount of 12% second lien convertible notes of Connacher due August 31, 2018 (the “New Convertible Notes”) through a private agreement and paid C$12.84 for the Common Shares and US$1,926.08 for the New Convertible Notes. The transaction was completed as of April 16, 2018.
Immediately prior to the acquisition described above, Cantor Fitzgerald & Co. did not own or control any securities of Connacher. As a result of the acquisition of the Common Shares and New Convertible Notes, Cantor Fitzgerald & Co. now exercises control over approximately 76% of the total number of Common Shares outstanding (assuming the conversion of all of the New Convertible Notes owned by Cantor and no other conversions of New Convertible Notes).
The Common Shares and New Convertible Notes over which Cantor exercises control will be held for investment purposes and may be sold, or additional securities of Connacher may be acquired, in the future as Cantor Fitzgerald & Co. considers appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
Connacher’s address is as follows:
1040, 640 – 5th Avenue SW
Calgary, Alberta T2P 3G4
Further information (including a copy of the report to be filed with Canadian securities regulators) can be obtained by contacting:
Cantor Fitzgerald & Co.
1801 N. Military Trail, Suite 202
Boca Raton, FL 33431
Attn: Nils Horning
212-829-4889
About Cantor Fitzgerald
Cantor Fitzgerald, a leading global financial services group at the forefront of financial and technological innovation has been a proven and resilient leader for over 65 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 7,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, prime brokerage, and commercial real estate finance and for its global distribution platform. Cantor Fitzgerald & Co. is one of 23 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. For more information please visit www.cantor.com.
Note to Editors: Cantor Fitzgerald, L.P., led by Chairman and Chief Executive Officer Howard W. Lutnick, is the parent entity of Cantor Fitzgerald & Co., led by Chief Executive Officer Shawn P. Matthews.