NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN
Prior to the exercise of the Exercised Warrants, Canacol held an aggregate of approximately 22.5% of the issued and outstanding Common Shares of Arrow on a partial diluted basis, being 41,715,205 Common Shares of Arrow and 18,357,602 warrants to purchase additional common shares of Arrow at an exercise price of £0.09 (
The exercise of the Exercised Warrants and corresponding Common Shares represent 6.9% of the issued and outstanding Common Shares of Arrow on a partial diluted basis. Subsequent to the exercise of the Exercised Warrants, Canacol holds an aggregate of 60,072,807 Common Shares of Arrow, which represents approximately 22.5% of the issued and outstanding common shares of Arrow.
The Exercised Warrants, if not exercised, would have expired on October 25, 2023. The purpose of the transaction was to benefit from the fact that the exercise price of the Exercised Warrants (£0.09 (
The above referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR+) at www.sedarplus.ca under Arrow’s issuer profile. For further information or to obtain a copy of the early warning report, please contact Canacol’s Chief Financial Officer at 403.767.4077.
About Canacol
Canacol is a natural gas exploration and production company with operations focused in
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "target", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to the percentage ownership of Arrow held by Canacol. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law.
For more information please contact: Investor RelationsSouth America : +571.621.1747 IR-SA@canacolenergy.com Global: +1.403.561.1648 IR-GLOBAL@canacolenergy.com http://www.canacolenergy.com
Source:
2023 GlobeNewswire, Inc., source