In accordance with Canadian regulation, Pilatus Energy has now become an insider shareholder as the holder of more than 10% of the shares of Petrolia. Insider is the legal term which designates, namely, any holder of more than 10% of the shares of a listed company. Pilatus Energy holds 3,600,000 common shares of Petrolia which repesents approximately 10.54% of the share capital of Petrolia. Three million of these shares were issued by Petrolia pursuant to a private placement and 600,000 shares were acquired on the market of the TSX Venture Exchange.
This investment in a listed company of great quality and of high potential for growth is perfectly in conformity with the Pilatus strategy. This strategy, in the long run, consists of investing in oil companies which are underestimated and very diversified, geographically and from the point of view of their profiles of activities.
Positively impressed by the quality of its management, Pilatus is trustful in the increase potential of the stock value of Petrolia.
Pilatus examines very seriously the possibility of representation on the board of directors of Petrolia in the near future.
Pilatus finally wishes to state that the takeover of Petrolia is not an objective, and that as such, it does not act in liaison with any third parties, although it reserves the possibility of increasing its participation in the capital of Petrolia.
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