|By Marketwired .||
|January 3, 2014 03:37 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/03/14 -- WM Marble Falls Energy LLC (indirectly controlled by Robert Haveman ("Haveman")) of 8065 Olive Shore Drive, West Olive Michigan 49460, announces that it has acquired (the "Acquisition") beneficial ownership and control of 2,000,000 units (the "Units) of Petrichor Energy Inc., (the "Company") from the Company's private placement that closed on November 11, 2013, as disclosed in the Company's news release dated November 14, 2013. Each Unit comprised of one common share (the "Shares") and one share purchase warrant (the "Warrants") of common shares of the Company. The Warrants are exercisable into a total of 2,000,000 common shares at a price of $0.35 per warrant share exercisable at $0.35 per share on or before November 12, 2015, assuming full exercise of Warrants, which would represent 11.52% of the Company issued and outstanding shares on a partially diluted basis.
After giving effect to the Acquisition of the Units, Haveman beneficially owns and controls, directly and indirectly, the following securities of the Company (collectively, the "Securities"): (i) 2,880,000 common shares of the Company (ii) 2,700,000 Warrants of the Company, and (iii) convertible debentures (the "Debenture"), the aggregate principal amount of which is convertible into up to 3,284,714 common shares of the Company assuming conversion in the first year on the basis of one common share for each $0.35 of principal.
The Securities (excluding shares that may be issued on conversion of the Debenture) represent 9.4% of the Company's issued and outstanding common shares on a non-diluted basis. On a partially-diluted basis, the Securities (assuming the full exercise of Warrants and conversion of the Debenture in the first year) represent 24.17% of the Company's then issued and outstanding common shares.
WM Marble Falls Energy LLC acquired the Units in consideration for the principal amount of $500,000 and for investment purposes. It intends to evaluate its investment in the Company and to increase or decrease its beneficial shareholdings from time to time as it 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.
WM Marble Falls Energy LLC
By its Beneficial Owner,
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.
WM Marble Falls Energy LLC
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