CALGARY, Alberta, Feb. 02, 2018 (GLOBE NEWSWIRE) -- MIE Maple Investments Limited (“MIE”) announces that it has sold an aggregate of 12,700,000 common shares (the “Shares”) in the capital of Journey Energy Inc. (“Journey”) to Journey for cancellation for aggregate consideration of $21,336,000 (being an amount of approximately $1.68 per Share) pursuant to a share purchase agreement dated as of January 22, 2018.
MIE disposed of ownership of, and control over, 12,700,000 Shares representing 24.8% of the issued and outstanding Shares prior to giving effect to the cancellation of such Shares. Prior to the closing of the disposition, MIE beneficially owned and controlled 16,355,798 Shares representing 31.9% of the issued and outstanding Shares. After giving effect to the disposition (including the cancellation of the Shares acquired by Journey), MIE beneficially owns and controls 3,655,798 Shares representing 9.5% of the issued and outstanding Shares.
The Shares were disposed of for investment purposes. Depending on market conditions and other relevant factors, MIE may dispose of additional Shares either on the open market or through private dispositions.
ABOUT MIE MAPLE INVESTMENTS LIMITED
MIE was incorporated under the laws of the British Virgin Islands. MIE’s head office is located at Rooms 521-526, 5/F, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong. MIE is a wholly-owned subsidiary of MIE Holdings Corporation, an independent upstream oil and gas company operating in China, Canada, Kazakhstan and the United States of America.
For additional information or to obtain a copy of the early warning report to be filed by MIE in connection with the foregoing, please contact:
MIE Maple Investments Limited
Attention: Song Wu
Tel: +852 2511 0028