SCOTTSDALE, Ariz., May 07, 2022 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, Don Gray, the Chairman of the board of directors of Petrus Resources Corp. ("Petrus"), announces that on April 29, 2022 he acquired ownership of, or control and direction over, 4,100,516 common shares ("Common Shares") of Petrus, pursuant to Petrus' recently completed rights offering (the "Rights Offering"), at a purchase price of $1.35 per Common Share for total consideration of $5,535,696.60.
As of the date of his prior report filed under the early warning requirements of applicable Canadian securities laws, Mr. Gray owned, controlled or directed an aggregate of 28,658,840 Common Shares, representing approximately 29.70% of the issued and outstanding Common Shares. After giving effect to the closing of the Rights Offering, Mr. Gray owns, controls or directs an aggregate of 32,759,356 Common Shares, representing approximately 26.9% of the issued and outstanding Common Shares.
The acquisition of the Common Shares was made in furtherance of the investment objectives of Mr. Gray and his spouse. Mr. Gray and his spouse may, from time to time, as market opportunities exist or develop, increase or decrease their ownership in Common Shares as permitted by applicable securities laws.
For additional information or to obtain a copy of the early warning report to be filed by Mr. Gray in connection with the foregoing, please contact:
Mathew Wong
Petrus Resources Ltd.
2400, 240 - 4th Avenue SW
Calgary, AB T2P 4H4
(403) 837-5780
