19:09:40 EDT Sat 27 Apr 2024
Enter Symbol
or Name
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Petrichor Energy Inc
Symbol PTP
Shares Issued 15,929,011
Close 2013-10-17 C$ 0.33
Market Cap C$ 5,256,574
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Petrichor investor Haveman acquires debentures

2013-10-18 16:58 ET - News Release

Mr. Robert Haveman, an investor, reports

EARLY WARNING REPORT OF ROBERT HAVEMAN

Robert Haveman of 8065 Olive Shore Dr., West Olive, Mich., United States, 49460, has acquired beneficial ownership and control of convertible debentures of Petrichor Energy Inc. in the aggregate principal amount of $1.15-million as part of the company's private placement of convertible debentures in an aggregate principal amount of $3.4-million that closed on Sept. 26, 2013, as disclosed in the company's news release dated Oct. 1, 2013. The debentures are convertible into up to 3,285,714 common shares of the company, assuming conversion in the first year on the basis of one common share for each 35 cents of principal, which represent 17.1 per cent of the company's issued and outstanding shares on a partially diluted basis assuming the conversion of the principal amount of the debentures.

After giving effect to the acquisition of the debentures, Mr. Haveman beneficially owns and controls, directly, the following securities of the company: the debentures, the aggregate principal amount of which is convertible into up to 3,285,714 common shares of the company assuming conversion in the first year on the basis of one common share for each 35 cents of principal, 880,000 common shares of the company and warrants exercisable to purchase 700,000 common shares of the company.

The securities represent 5.53 per cent of the company's 15,929,011 issued and outstanding common shares on a non-diluted basis or 24.44 per cent of the company's issued and outstanding common shares calculated on a partially diluted basis assuming the conversion of the aggregate principal amount of the debentures in the first year and the exercise of the warrants.

Mr. Haveman acquired the debentures in consideration for the aggregate principal amount of $1.15-million and for investment purposes. He intends to evaluate his investment in the company and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes. A copy of the early warning report being filed by Mr. Haveman may be obtained by contacting Mr. Haveman at 616-846-9320.

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