/KASE, April 19, 2021/ – Tethys Petroleum Limited (Cayman Islands), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release dated April 16, 2021:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or
the "Company") today announces that it has completed the previously announced
private placement with Pope Investments II, LLC.
Pope Investments II, LLC acquired 2,592,115 ordinary shares of Tethys
Petroleum. The price for the shares is .67 CAD per share for total proceeds to
Tethys CAD$1,736,717. The placement is to Pope Investments II, LLC, an
investment fund managed by Pope Asset Management, LLC. William Wells, the
Chairman of Tethys Petroleum is the President of Pope Asset Management, LLC
and has a minority ownership interest in Pope Investments II, LLC. The private
placement is considered a Related Party Transaction as defined under
Multilateral Instrument 61-101 since Mr. Wells is the Chairman of the Company.
The transaction is exempt from the valuation and minority shareholder
requirements thereunder since the consideration in the transaction is less than
25% of the market capitalization of the Company. This placement has received
approval from the TSX Venture Exchange.
unquote
The full press release is available on KASE website:
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_160421_1.pdf – in
Russian;
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_160421_eng_1.pdf – in
English.
[2021-04-19]