|By Marketwired .||
|October 18, 2013 04:46 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/18/13 -- Robert Haveman, of 8065 Olive Shore Drive, West Olive, Michigan, USA, 49460, announces that he has acquired beneficial ownership and control of convertible debentures of Petrichor Energy Inc. (the "Company") in the aggregate principal amount of $1,150,000 (the "Debentures") as part of the Company's private placement of convertible debentures in an aggregate principal amount of $3,400,000 that closed on September 26, 2013 as disclosed in the Company's news release dated October 1, 2013 (the "Private Placement"). 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 $0.35 of principal, which represents 17.10% 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 (collectively, the "Securities"): (i) 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 $0.35 of principal, (ii) 880,000 common shares of the Company, and (iii) warrants exercisable to purchase 700,000 common shares of the Company (the "Warrants").
The Securities represent 5.53% of the Company's 15,929,011 issued and outstanding common shares on a non-diluted basis or 24.44% 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 $1,150,000 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
8065 Olive Shore Drive
West Olive, Michigan 49460
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.