Gran Tierra Energy Inc. Announces Pricing of $100 Million Convertible Senior Notes Offering – Gran Tierra Energy
Summary
CALGARY, ALBERTA(Marketwired March 31, 2016) Gran Tierra Energy Inc. (Gran Tierra) (NYSE MKT:GTE)(TSX:GTE), today announced that it has priced its offering of $100 million aggregate principal amount of 5.0% Convertible Senior Notes due 2021 (the Convertible Notes) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), in the United States and pursuant to certain prospectus exemptions in Canada. Gran Tierra expects to close the offering on April 6, 2016, subject to the satisfaction of customary closing conditions and the acceptance of the Toronto Stock Exchange.The Convertible Notes will pay interest semi-annually at a rate of 5.0% per annum, and will mature on April 1, 2021, unless earlier redeemed, repurchased or converted in accordance with their terms. Gran Tierra intends to use the net proceeds from this sale of the Convertible Notes for general corporate purposes, which may include acquisitions and/or capital expenditures.This press release is neither an offer to sell nor a solicitation of an offer to buy the Convertible Notes or the shares of common stock issuable upon conversion of the Convertible Notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.The Convertible Notes and the common stock issuable upon conversion of the Convertible Notes have not been 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 registration requirements. There are a number of important factors that could cause Gran Tierras results to differ materially from those indicated by these forward-looking statements, including risks and uncertainties related to market conditions, the receipt of all necessary regulatory and exchange approvals, and the satisfaction of customary closing conditions related to the proposed offering. Unless required by applicable law, Gran Tierra undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.