MIE Maple Investments Limited, BVI-registered subsidiary of MIE Holdings Corporation, announced that it has sold an aggregate of 12,700,000 common shares in the capital of Journey Energy Inc. to Journey for cancellation, for an aggregate consideration of $21,336,000 (approximately $1.68 per share).
The shares disposed of represent 24.8 per cent of the issued and outstanding shares of Journey Energy. Before selling the shares, the BVI company beneficially owned and controlled 16,355,798 shares, representing 31.9 per cent of the issued and outstanding shares. After closing the disposition, MIE beneficially owns and controls 3,655,798 shares representing 9.5 per cent of the issued and outstanding shares. The company disposed of shares for investment purposes.
