CALGARY, Dec. 31, 2015 /CNW/ – Riverstone Seneca B.V. (“Riverstone”), an affiliate of Riverstone Holdings LLC, announced today that as of 5:00 p.m. (EST) on December 29, 2015, approximately 54,290,198 common shares (“Common Shares”) of Canadian International Oil Corp. (“CIOC”) and approximately 77,868,910 Common Share purchase warrants with an exercise price of $1.20 per warrant (“Warrants”) had been validly deposited pursuant to the previously announced offer of Riverstone (the “Offer”) to acquire all of the Common Shares and Warrants not already owned by Riverstone. Riverstone has taken-up the deposited Common Shares and Warrants and has extended its offer until 5:00 p.m. (EST) on January 13, 2016, to allow CIOC securityholders an additional opportunity to tender their Common Shares and Warrants. A notice of extension will be mailed to holders of Common Shares and Warrants.
Full details of the Offer are set out in the take-over bid circular of Riverstone dated November 20, 2015. The take-over bid circular is available on CIOC's website at www.cioc.com along with the directors' circular of CIOC related thereto.
About Canadian International Oil Corp.
Founded in 2010, CIOC is a privately held oil and gas company based in Calgary. CIOC's primary asset base is in the Deep Basin of West Central Alberta. CIOC controls and operates on average approximately 94% of this asset base, which comprises approximately 192,000 acres prospective for the Montney and 219,000 acres prospective for the Duvernay.
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over $32 billion of capital raised to date. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed over $30 billion to over 120 investments in North America, Latin America, Europe, Africa and Asia.
SOURCE Riverstone Seneca B.V.