ATLANTA, Dec. 24, 2018 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable securities laws, GMT Capital Corp. ("GMT") announces that effective December 21, 2018, certain of its hedge fund and private client managed accounts (the "GMT Entities") purchased from Granite Oil Corp. ("Granite") 1,000,000 common shares (the "Common Shares") at a price of $0.52 per share or $520,000 in the aggregate.
Immediately prior to the acquisition of the Common Shares, GMT's managed accounts held an aggregate of 5,290,594 Common Shares representing approximately 15.47% of the outstanding Common Shares. After giving effect to the acquisition of the Common Shares, GMT's managed accounts hold an aggregate of 6,290,594 Common Shares representing approximately 16.91% of the outstanding Common Shares.
The Common Shares were acquired in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over Granite. GMT's hedge fund and private client managed accounts may from time to time acquire additional Common Shares, dispose of some or all of the existing or additional Common Shares or may continue to hold the Common Shares.
GMT specifically disclaims any beneficial ownership of the Common Shares held by its hedge fund and private client managed accounts, but as investment manager of its managed accounts GMT has exclusive power to exercise investment control or direction over such Common Shares.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:
GMT Capital Corp.
2300 Windy Ridge Parkway
Suite 550 South
Atlanta, GA 30339
Attention: Philip J. Meyers, Vice President – Head of Compliance
Telephone: (770) 989-8263