Monday, May 03, 2010 11:58:27 PM
May 03, 2010 17:15 ET
http://www.marketwire.com/press-release/Clayton-H-Riddell-Acquisition-of-Common-Shares-of-Canadian-Superior-Energy-Inc-1157941.htm
CALGARY, ALBERTA--(Marketwire - May 3, 2010) - Clayton H. Riddell (on his own behalf and on behalf of entities controlled by him) reports that on January 19, 2010, he acquired indirect ownership and control of 38,461,538 common shares of Canadian Superior Energy Inc. ("Canadian Superior"), representing approximately 12.35% of Canadian Superior's then outstanding common shares, through a non-brokered private placement (the "Offering"). As of April 30, 2010, Mr. Riddell, directly and indirectly, owns a total of 39,047,627 common shares of Canadian Superior, representing approximately 12.54% of Canadian Superior's current outstanding common shares. Mr. Riddell indirectly shares control (through the Riddell Family Charitable Foundation) of an additional 1,830,235 common shares of Canadian Superior representing approximately 0.59% of Canadian Superior's current outstanding common shares. In total, Mr. Riddell, directly or indirectly, owns or controls a total of 40,877,862 common shares of Canadian Superior representing approximately 13.12% of Canadian Superior's current outstanding common shares.
The 38,461,538 common shares of Canadian Superior were acquired by Mr. Riddell pursuant to the terms of the Offering. Pursuant to the Offering, Canadian Superior issued a total of 114,424,238 common shares at a price of $0.52 per common share. The common shares issued pursuant to the Offering are subject to a four month plus one day hold period from the date of closing of the Offering in accordance with applicable Canadian securities legislation. The total consideration paid by Mr. Riddell for the common shares acquired was $20,000,000.
Mr. Riddell acquired the common shares of Canadian Superior for investment purposes. The acquisition pursuant to the Offering was made in reliance on section 2.3 of NI 45- 106. Mr. Riddell may increase or decrease his ownership of, or control over, common shares of Canadian Superior depending on market conditions or any other relevant factor.
For more information, please contact
Clayton H. Riddell
4700 Bankers Hall West
888 - 3rd Street S.W.
Calgary, Alberta T2P 5C5
403-290-3600
Recent SNG News
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 10/21/2023 01:34:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM