Sale of 137,093,750 PetroTal Shares for US$30.1 Million CALGARY, Alberta, Nov. 26, 2021 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE: GTE) today announced that Gran Tierra Resources Limited (“GTRL”), a wholly owned subsidiary of Gran Tierra, has procured private purchasers for the sale by GTRL of an aggregate of 137,093,750 common shares (the “Purchased Shares”) of PetroTal Corp. (“PetroTal”) at a price of US$0.2198 per Purchased Share, for an aggregate purchase price of approximately US$30.1 million. The price of US$0.2198 per Purchased Share represents an approximate discount of 10.8% to the closing price of the common shares of PetroTal on November 25, 2021 on the AIM Market of the London Stock Exchange.
Gran Tierra intends to use the proceeds of the sale of PetroTal shares to pay down debt and for other general corporate purposes.
Following this transaction, GTRL will not own any shares of PetroTal.
https://www.globenewswire.com/news-release/2021/11/26/2341320/0/en/Gran-Tierra-Energy-Inc-Announces-Sale-of-137-093-750-PetroTal-Shares-for-US-30-1-Million.html