Welcome!

News Feed Item

Firebird Global Master Fund, Ltd. and its joint actor Firebird Global Master Fund II, Ltd. transfer their securities to Firebird Global Master Fund Holdings, Ltd. and Firebird Global Master Fund II Holdings, Ltd.

CAYMAN ISLANDS, March 26, 2014 /CNW/ - Firebird Global Master Fund, Ltd. ("FGMF") announces that (i) it transferred to its parent company, Firebird Global Master Fund Holdings, Ltd. ("FGMF Holdings"), all of the securities it held in the share capital of Vanoil Energy Ltd. (TSX-V; VEL) (the "Issuer" or "Vanoil"), namely 32,551,045 common shares and 20,732,293 warrants to acquire the same number of common shares in the share capital of Vanoil and (ii) Firebird Global Master Fund II, Ltd. ("FGMFII"), a joint actor of FGMF, transferred to its parent company, Firebird Global Master Fund II Holdings, Ltd. ("FGMF II Holdings"), all of the securities it held in the share capital of the Issuer, namely 19,064,630 common shares and 9,556,610 warrants to acquire the same number of common shares in the share capital of Vanoil.

Furthermore, 4,019,059 warrants to acquire the same number of common shares in the share capital of the Issuer held by FGMF Holdings expired without being exercised and 1,611,289 warrants to acquire the same number of common shares in the share capital of Vanoil held by FGMF II Holdings expired without being exercised.

The aggregate number of securities of the Issuer held by FGMF Holdings and its joint actors is 52,115,675 common shares, 25,492,555 warrants to acquire the same number of common shares in the share capital of the Issuer and 950,000 options to acquire the same number of common shares in the share capital of the Issuer. Out of the 52,115,675 common shares, 25,492,555 warrants, and 950,000 options, 32,551,045 common shares and 16,713,234 warrants are held by FGMF Holdings, 19,064,630 common shares and 7,945,321 warrants are held by FGMF II Holdings and 500,000 common shares, 834,000 warrants and 950,000 options are held by James Passin. FGMF and FGMFII no longer hold any securities of the Issuer.

The 52,115,675 common shares held by FGMF Holdings and its joint actors represent approximately 44.57% of the outstanding common shares of the Issuer.

In addition, assuming the exercise by FGMF Holdings and its joint actors of the above-mentioned warrants and options to acquire additional common shares of the Issuer, the total securityholding in the share capital of the Issuer would be 78,558,230 common shares, representing approximately 54.79% of the outstanding common shares of the Issuer, including the common shares deemed to be acquired pursuant to the exercise of such warrants and options.

The securities are held for investment purposes. However, FGMF Holdings and its joint actors can be qualified as active investors, since Mr. James Passin, manager and director of FGMF Holdings and FGMF II Holdings, is Chairman of the board of directors of the Issuer. FGMF Holdings and its joint actors may, from time to time, acquire additional securities of the Issuer, may continue to hold their present position or may dispose of their securities.

The securities transferred by the Offeror and FGMFII to FGMF Holdings and FGMF II Holdings, respectively, were transferred at their then fair market value in the context of reorganization.

No other joint actor of FGMF Holdings currently holds any securities of the Issuer.

This press release is being issued in order to comply with the disclosure requirements under applicable securities legislation. This press release is not an admission that FGMF Holdings owns or controls any described securities or is a joint actor with anyone else.

SOURCE FIREBIRD GLOBAL MASTER FUND, LTD.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...
Tricky charts and visually deceptive graphs often make a case for the impact IT performance has on business. The debate isn't around the obvious; of course, IT performance metrics like website load time influence business metrics such as conversions and revenue. Rather, this presentation will explore various data analysis concepts to understand how, and how not to, assert such correlations. In his session at 20th Cloud Expo, Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Sys...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Stratoscale, the software company developing the next generation data center operating system, exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016.Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere, IT is empowered to take control of their data ce...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...