Gran Tierra Energy Inc. Announces Closing of an Additional $150 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029
18 September 2024 - 11:05PM
UK Regulatory
Gran Tierra Energy Inc. Announces Closing of an Additional $150
Million Aggregate Principal Amount of its 9.500% Senior Secured
Amortizing Notes due 2029
CALGARY, Alberta, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Gran
Tierra Energy Inc. (“Gran Tierra” or the
“Company”) (NYSE
American:GTE)(TSX:GTE)(LSE:GTE) today announced that
it has completed its previously announced offering of an additional
$150 million aggregate principal amount of its previously issued
9.500% Senior Secured Amortizing Notes due 2029 (the
“Notes”) in a private placement to persons
reasonably believed to be qualified institutional buyers in the
United States pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), to
non-U.S. persons in transactions outside the United States
pursuant to Regulation S under the Securities Act, and
pursuant to certain prospectus exemptions in Canada.
Gran Tierra previously had outstanding
US$587,590,000 aggregate principal amount of 9.500% Senior Secured
Amortizing Notes due 2029 (the “Original Notes”).
The Notes have the same terms and provisions as the Original Notes,
except for the issue date and the issue price, and form the same
series as the Original Notes, including with respect to interest
payments. The Notes are expected to trade under the same CUSIP
number as the Original Notes, except that the Notes sold pursuant
to Regulation S under the Securities Act have a different
CUSIP number than the Original Notes until 40 days after the
issue date of the Notes.
The Notes are guaranteed by certain subsidiaries
of Gran Tierra. Gran Tierra intends to use the net proceeds from
the offering to finance the cash portion of the consideration
payable for the shares under the terms of the proposed acquisition
of the entire issued and to be issued share capital of i3 Energy
plc, a public limited company organized under the laws of England
and Wales, and any remaining net proceeds from the offering for
general corporate purposes, which may include additional capital to
appraise and develop exploration discoveries, repayment of other
indebtedness, working capital and/or acquisitions.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the Notes, nor shall
there be any sale of the Notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. The Notes will not be registered under the Securities
Act or the securities laws of any other jurisdiction and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
The offering was made, and the Notes were
offered and issued, only (a) in the United States to investors
who are reasonably believed to be “qualified institutional buyers”
(as defined in Rule 144A under the Securities Act) in reliance
upon the exemption from the registration requirements of the
Securities Act, (b) outside the United States to investors who
are persons other than “U.S. persons” (as defined in
Rule 902 under the Securities Act) in reliance upon
Regulation S under the Securities Act, and (c) pursuant
to certain prospectus exemptions in Canada.
Cautionary Statement Regarding
Forward-Looking Statements
This press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act,
Section 21E of the Securities Exchange Act of 1934, as amended, and
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 or “forward-looking information” within the
meaning of applicable Canadian securities laws. All statements
other than statements of historical facts included in this press
release, and those statements preceded by, followed by or that
otherwise include the words “may,” “might,” “will,” “would,”
“could,” “should,” “believe,” “expect,” “anticipate,” “intend,”
“estimate,” “project,” “target,” “goal,” “guidance,” “budget,”
“plan,” “objective,” “potential,” “seek,” or similar expressions or
variations on these expressions are forward-looking statements.
Gran Tierra can give no assurances that the assumptions upon which
the forward-looking statements are based will prove to be correct
or that, even if correct, intervening circumstances will not occur
to cause actual results to be different than expected. Because
forward-looking statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by the forward-looking statements. There are a number of
risks, uncertainties and other important factors that could cause
Gran Tierra’s actual results to differ materially from the
forward-looking statements, including, but not limited to,
statements related to Gran Tierra’s expectations regarding the use
of proceeds of the offering and those factors set out in Part I,
Item 1A, “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K
for the year ended December 31, 2023, and in Gran Tierra’s other
filings with the U.S. Securities and Exchange Commission. Although
Gran Tierra believes the expectations reflected in the
forward-looking statements are reasonable, Gran Tierra cannot
guarantee future results, level of activity, performance or
achievements. Moreover, neither Gran Tierra nor any other person
assumes responsibility for the accuracy or completeness of any of
these forward-looking statements. Investors should not rely upon
forward-looking statements as predictions of future events. The
information included herein is given as of the date of this press
release and, except as otherwise required by the securities laws,
Gran Tierra disclaims any obligation or undertaking to publicly
release any updates or revisions to, or to withdraw, any
forward-looking statement contained in this press release to
reflect any change in Gran Tierra’s expectations with regard
thereto or any change in events, conditions or circumstances on
which any forward-looking statement is based.
ABOUT GRAN TIERRA ENERGY INC.
Gran Tierra Energy Inc. together with its
subsidiaries is an independent international energy company
currently focused on international oil and natural gas exploration
and production with assets currently in Colombia and Ecuador. The
Company is currently developing its existing portfolio of assets in
Colombia and Ecuador and will continue to pursue additional growth
opportunities that would further strengthen the Company’s
portfolio. The Company’s common stock trades on the NYSE American,
the Toronto Stock Exchange and the London Stock Exchange under the
ticker symbol GTE.
For investor and media inquiries please contact:
Gary Guidry, President & Chief Executive Officer
Ryan Ellson, Executive Vice President & Chief Financial
Officer
+1-403-265-3221
info@grantierra.com
SOURCE Gran Tierra Energy Inc.
Gran Tierra Energy (LSE:GTE)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
Gran Tierra Energy (LSE:GTE)
Historical Stock Chart
Von Okt 2023 bis Okt 2024