Wolverine Energy and Infrastructure Inc WEIIF

Large UK financial institution buys into Sound Energy

[courtninja]

Sound Energy, the European and African focused upstream gas company announces that, following an approach to the Company by a large UK financial institution wishing to secure an equity position, it has been notified that Greenberry S.A. ("Greenberry") has sold, to the above pre-identified institution, 10,000,000 of the Company's warrants to subscribe for new ordinary shares in the Company expiring 21 June 2021 (the "Warrants").

This transaction occurred on 10 October 2016 at a price of 50 pence per Warrant. Should the Warrants be exercised, the acquisition price of ordinary shares for the new Warrant holder (inclusive of the 30 pence per share exercise price) would therefore be 80 pence per new ordinary share, representing a 5.9 per cent. discount to the closing mid market price per Sound Energy ordinary share of 85.0 pence on 10 October 2016.

The Company looks forward to the introduction of further institutions to the shareholder register.

Further details can be found at this link.