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HIGHWOOD ASSET MANAGEMENT LTD. ANNOUNCES SECONDARY BLOCK TRADE OF COMMON SHARES TO STRATEGIC U.S. INSTITUTIONAL INVESTOR
HIGHWOOD ASSET MANAGEMENT LTD. ANNOUNCES SECONDARY BLOCK TRADE OF COMMON SHARES TO STRATEGIC U.S....
About this update from Highwood Asset Management Ltd
[{"type":"text","content":"\n \n \n \n HIGHWOOD ASSET MANAGEMENT LTD. ANNOUNCES SECONDARY BLOCK TRADE OF COMMON SHARES TO STRATEGIC U.S. INSTITUTIONAL INVESTOR\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 25, 2024\n \n \n /CNW/ - Highwood Asset Management Ltd. (\"\n \n Highwood\n \n \" or the \"\n \n Company\n \n \") (TSXV: HAM) is pleased to announce the acquisition (\"\n \n Acquisition\n \n \") by Libra Advisors, LLC (\"\n \n Libra\n \n \") of 1,500,000 common shares (\"\n \n Shares\n \n \") in the capital of Highwood (\"\n \n Acquired Shares\n \n \"), previously held by West Lake Energy Corp. (\"\n \n West Lake\n \n \").\n \n \n \n \n \n \n \n \n \n West Lake originally acquired the Acquired Shares from Highwood on\n \n August 3, 2023\n \n as partial consideration for the acquisition by Highwood of all of the issued and outstanding shares in Boulder Energy Ltd., a wholly-owned subsidiary of West Lake at such time.\n \n \n As a result of the Acquisition and together with the securities previously held, Libra, on behalf of the portfolios of investment funds managed by it, now exercises control or direction over 1,617,934 Shares (inclusive of the Acquired Shares) and 166,667 Share purchase warrants (\"\n \n Warrants\n \n \"), representing approximately 10.7% of the issued and outstanding Shares at\n \n April 25, 2024\n \n (or approximately 11.7% on a partially diluted basis, assuming conversion of Warrants).\n \n \n \n Joel MacLeod\n \n , Executive Chairman of Highwood commented, \"We are honored to have Libra increase their ownership as a strategic institutional investor in Highwood at the early stages of our growth plan. Our growth plan will include a balance of organic development and / or other strategic M&A while using prudent leverage to provide a significant return of capital to all shareholders over the long-term.\"\n \n \n The Company understands that Libra acquired the Acquired Shares for in...