Saturday, September 24, 2016

MIE Maple Investments announced acquisition of Journey Energy shares

MIE Maple Investments Limited, incorporated under the law of the British Virgin Islands and headquartered in Hong Kong, announced the acquisition of 16,355,798 common shares and restricted voting shares in the capital of Journey Energy Inc, pursuant to the share purchase agreement signed at September 15, 2016. The shares were purchased from Infra-PSP Partners Inc. for total consideration of US$33,846,602 (approximately US$2.069 per share).

Acquisition is expected to close on or before September 30, 2016, and upon this moment the BVI company will get ownership of 37.5 per cent of the issued and oustanding shares of Journey Energy. MIE did non hold any shares before the acquisition.

The BVI company acquires shares for investment purposes. It may buy additional shares either on the open market or through private acquisitions, or sell them privately or on the open market.

MIE Maple Investments is a wholly owned subsidiary of MIE Holdings Corporation, which is an independent oil and gas company working in China, Kazakhstan and the US.