CALGARY, July 22, 2015 /PRNewswire/ - Gran Tierra
Energy Inc. ("Gran Tierra") (NYSE MKT: GTE, TSX: GTE), today
announces that it intends to implement a normal course issuer bid
(the "Bid") through the facilities of the Toronto Stock
Exchange ("TSX") and the NYSE MKT. Pursuant to the Bid and
subject to regulatory approval, Gran Tierra would be able to
purchase for cancellation up to approximately 5% of its issued and
outstanding shares of common stock (the "Shares") for a one
year period at prevailing market prices.
Management of Gran Tierra believes that the Shares, at times,
have been trading in a price range which does not adequately
reflect their value in relation to Gran Tierra's current
operations, growth prospects and financial position. At such times,
the purchase of Shares for cancellation may be advantageous to
stockholders by increasing the value of the remaining Shares.
About Gran Tierra Energy Inc.
Gran Tierra is an international oil and gas exploration and
production company, headquartered in Calgary, Canada, incorporated in the United States, trading on the NYSE MKT
(GTE) and the Toronto Stock Exchange (GTE), and operating in
South America. Gran Tierra holds
interests in producing and prospective properties in Colombia, Peru, and Brazil. Gran Tierra has a strategy that
focuses on establishing a portfolio of producing properties, plus
production enhancement and exploration opportunities to provide a
base for future growth.
Gran Tierra's SEC filings are available on a web site maintained
by the SEC at http://www.sec.gov and on SEDAR at
http://www.sedar.com.
Forward-Looking Statements and Advisories
This news release contains certain forward-looking information
and forward-looking statements (collectively, "forward-looking
statements") under the meaning of applicable securities laws,
including Canadian Securities Administrators' National Instrument
51-102 - Continuous Disclosure Obligations and the United States
Private Securities Litigation Reform Act of 1995. The use of the
words "intend" and "believe", derivations thereof and similar terms
identify forward-looking statements. In particular, but without
limiting the foregoing, this news release contains forward-looking
statements regarding the commencement of the Bid and the benefits
to be derived therefrom.
The forward-looking statements contained in this news release
reflect several material factors and expectations and assumptions
of Gran Tierra including, without limitation, assumptions relating
to the ability to receive, in a timely manner, the necessary
approval of the TSX and general market and economic conditions.
Gran Tierra believes the material factors, expectations and
assumptions reflected in the forward-looking statements are
reasonable at this time but no assurance can be given that these
factors, expectations and assumptions will prove to be correct.
The forward-looking statements contained in this news release
are subject to risks, uncertainties and other factors that could
cause actual results or outcomes to differ materially from those
contemplated by the forward-looking statements, including, among
others: delays in obtaining necessary approval from the TSX and
unexpected changes in general market and economic conditions.
Accordingly, readers should not place undue reliance on the
forward-looking statements contained herein. Further information on
potential factors that could affect Gran Tierra are included in
risks detailed from time to time in Gran Tierra's Securities and
Exchange Commission filings, including, without limitation, under
the caption "Risk Factors" in Gran Tierra's Quarterly Report on
Form 10-Q filed May 6, 2015. These
filings are available on a Web site maintained by the Securities
and Exchange Commission at http://www.sec.gov and on SEDAR at
www.sedar.com.
The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this press release are made
as of the date of this press release and Gran Tierra disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
legislation.
SOURCE Gran Tierra Energy Inc.