Gran Tierra Announces Publication of Prospectus and Proposed
Admission to Trading on the London Stock Exchange
Gran Tierra Energy Inc. (“Gran Tierra” or
the “Company”) (NYSE American:GTE) (NYSE MKT:GTE)
(TSX:GTE) is pleased to announce the publication of a
prospectus dated September 28, 2018 (the
“Prospectus”), in relation to the proposed
admission of the Company’s common stock to the standard listing
segment of the Official List of the Financial Conduct Authority. As
a result, trading of Gran Tierra’s common stock on the Main Market
of the London Stock Exchange (the
“LSE”) is
expected to commence on or before October 10, 2018, under the
ticker “GTE”. The Company’s common stock will also continue to
trade on the NYSE American and on the Toronto Stock Exchange (the
“TSX”). A copy of the Prospectus has been made
available on the Investor Relations page of the Company’s website
(www.grantierra.com) under “UK Regulatory News” and will be shortly
available for viewing at the National Storage Mechanism
(www.morningstar.co.uk/uk/nsm). The Company is not offering or
issuing, and will not offer or issue, any securities in connection
with the listing of the common stock on the LSE, and the Prospectus
has been issued solely in connection with the admission of the
Company’s common stock to trading on the Main Market for listed
securities of the LSE.
Gary Guidry, President and Chief Executive
Officer of Gran Tierra, commented: “The team at Gran Tierra has
successfully transformed the Company by refocusing its growth
portfolio in Colombia, and investors in Europe have supported the
Company during its repositioning. We believe our listing on
the LSE will help facilitate investments for international
investors in the UK and across Europe. With our solid balance sheet
and our high quality, operated, diversified suite of assets in
Colombia, we believe that Gran Tierra is well suited to the London
capital markets.”
Rationale for Listing on the
LSE
Gran Tierra benefits from a supportive
shareholder base built and sustained from its listings on the NYSE
American and on the TSX. A listing on the LSE is intended to
broaden Gran Tierra’s international investor base by providing
access to a significant pool of investors who are mandated to
invest in European regulated markets. By enlarging its investor
base, Gran Tierra believes that this listing will enhance liquidity
for its shareholders, broaden its UK and European based research
coverage, and provide more direct access to the London capital
markets. RBC Capital Markets is acting as Financial Adviser to the
Company on the listing and will act as Corporate Broker post
Admission.
About Gran Tierra Energy
Inc.
Gran Tierra Energy Inc. together with its
subsidiaries is an independent international energy company focused
on oil and natural gas exploration and production in Colombia. The
Company is focused on its existing portfolio of assets in Colombia
and will pursue new growth opportunities throughout Colombia,
leveraging on its technical expertise and financial strength.
The Company’s core assets are located in the
Middle Magdalena and the Putumayo basins and it operates 26 out of
the 30 blocks in which it has interests.
The Company believes that it has an exciting
portfolio in Colombia that provides significant development
inventory to continue to grow its production. Following several
acquisitions in 2016 and 2017, the Company has successfully
consolidated sufficient exploration opportunities to commence a
three to five year continuous exploration program, which it expects
will be fully funded through the reinvestment of cash flows from
operations and leverage of its financial strength. The exploration
program targets drilling 30 to 35 exploration wells in primarily
proven basins in Colombia, including the Putumayo, the Middle
Magdalena Valley and Llanos basins.
As previously announced, at the end of the
second quarter 2018, the Company had $126 million of cash and cash
equivalents and an undrawn $300 million credit facility.
The Company’s common stock is listed on the NYSE
American and the TSX under the ticker symbol GTE.
Additional information concerning Gran Tierra is
available at www.grantierra.com. Neither information on the
Company's website nor information on any website accessible by
hyperlinks on the Company's website is incorporated in or
constitutes a part of this press release.
Gran Tierra’s Securities and Exchange Commission
(“SEC”) filings are available on the SEC website at
http://www.sec.gov and on SEDAR at http://www.sedar.com.
Contact Information
For investor and media inquiries please
contact:
Gran Tierra
Gary GuidryChief Executive Officer
Ryan EllsonChief Financial Officer
Rodger TrimbleVice President, Investor
Relations
403- 265-3221info@grantierra.com
RBC Capital Markets (Financial Advisor
to the listing and Corporate Broker)
Matthew Coakes
Rupert Walford
Martin Copeland
Darrell Law
+44-207-653-4000
Forward Looking Statements and Legal
Advisories:
This press release is neither an offer
to sell nor a solicitation of an offer to buy any securities. The
publication, and inclusion on the Company’s website, of the
prospectus in relation to the proposed listing of the Company’s
common stock on the London Stock Exchange is neither an offer to
sell nor a solicitation of an offer to buy any securities. The
Company is not conducting any offering or issuance of securities in
connection with the listing of the Company’s common stock on the
London Stock Exchange and the prospectus of the Company has been
issued solely in connection with the listing of the Company's
common stock on the London Stock Exchange.
This press release contains opinions, forecasts,
projections, and other statements about future events or results
that constitute forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and
financial outlook and forward-looking information within the
meaning of applicable Canadian securities laws (collectively,
"forward-looking statements"), which can be identified by such
terms as expect, plan, guidance, project, will, believe, target and
other terms that are forward-looking in nature. Such
forward-looking statements include, but are not limited to, the
Company's expectations as to the timing of listing on the LSE, the
impact on the Company and investors of the listing on the LSE, the
nature of future trading of the Company’s common stock and capital
markets activity, the Company’s exploration and capital program,
and the results of the Company’s strategies.
The forward-looking statements contained in this
press release reflect several material factors and expectations and
assumptions of Gran Tierra including, without limitation, that
market conditions will remain stable or improve, that a market will
develop in Gran Tierra’s common stock on the London Stock Exchange,
that potential and existing investors in Gran Tierra will react
favorably to the additional listing on the London Stock Exchange,
that Gran Tierra will continue to conduct its operations in a
manner consistent with its current expectations, the general
continuance of current or, where applicable, assumed operational,
regulatory and industry conditions and receipt of required
approvals, and the ability of Gran Tierra to execute its current
business and operational plans in the manner currently planned.
Gran Tierra believes the material factors, expectations and
assumptions reflected in the forward-looking statements are
reasonable at this time but no assurance can be given that these
factors, expectations and assumptions will prove to be correct.
Among the important factors that could cause
actual results to differ materially from those indicated by the
forward-looking statements in this press release are: adverse
market conditions on the exchanges on which Gran Tierra’s common
stock is trading; low liquidity and trading volume or high
volatility in trading activity around Gran Tierra common stock;
prices and markets for oil and natural gas are unpredictable and
tend to fluctuate significantly; the inability of Gran Tierra
to execute its business plan; the risk that current global economic
and credit market conditions may impact oil prices and oil
consumption more than Gran Tierra currently predicts, which could
cause Gran Tierra to further modify its strategy and capital
spending program; weaknesses or declines in local or global capital
markets or investing activity; and the risk factors detailed from
time to time in Gran Tierra’s reports filed with the SEC,
including, without limitation, under the caption “Risk Factors” in
Gran Tierra's Annual Report on Form 10-K filed February 27,
2018 and its Quarterly Reports. These filings are available on the
SEC website at www.sec.gov and on SEDAR at www.sedar.com.
All forward-looking statements included in this
press release are made only as of the date of this press release,
and the fact that this press release remains available does not
constitute a representation by Gran Tierra that Gran Tierra
believes these forward-looking statements continue to be true as of
any subsequent date. Actual results may vary materially from the
expected results expressed in forward-looking statements. Gran
Tierra disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities laws. Gran Tierra’s
forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
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