CALGARY,
AB, May 15, 2024 /CNW/ - Carbon Infrastructure
Partners Corp. ("CIP"), as advisor to the general
partner of CIP Energy Fund 1-A LP ("Fund 1-A") and JOG
Limited Partnership No. VI ("Fund VI", and collectively with
Fund 1-A, the "Funds"), announces that Fund 1-A has disposed
of 3,571,429 common shares ("Common Shares") and 446,428
Common Share purchase warrants ("Warrants") in the capital
of Lycos Energy Inc. ("Lycos"), representing all Common
Shares and Warrants held by Fund 1-A. The disposition is the result
of a distribution to the partners of Fund 1-A (the
"Distribution") in connection with the dissolution of Fund
1-A pursuant to the terms of Fund 1-A's limited partnership
agreement. Following the Distribution, Fund 1-A does not hold any
Common Shares or Warrants.
Immediately prior to the Distribution, Fund 1-A held
446,428 Warrants, each such Warrant entitling the holder
thereof to purchase one Common Share at an exercise price of
$2.24 per Common Share, subject to
the terms and conditions attached to the Warrants. Immediately
following the completion of the Distribution, Fund 1-A holds no
Warrants.
Immediately prior to the Distribution, Fund 1-A held 3,571,429
Common Shares and Fund VI held 2,343,750 Common Shares, for an
aggregate of 5,915,179 Common Shares, representing in total
approximately 12.0% of the issued and outstanding Common Shares
(assuming exercise of all Warrants held by Fund 1-A immediately
prior to the Distribution). Immediately following the completion of
the Distribution, Fund 1-A holds no Common Shares and Fund VI holds
2,343,750 Common Shares, representing in total approximately 4.4%
of the issued and outstanding Common Shares.
The Common Shares and Warrants were acquired by the Funds for
investment purposes and have been disposed of as described herein
by Fund 1-A in accordance with the dissolution and distribution
provisions of the limited partnership agreement of Fund 1-A. CIP
expects to review from time to time the investments of Fund VI in
Lycos and may, depending on the market and other conditions: (i)
cause an investment entity advised by it to acquire additional
Common Shares in privately negotiated transactions or otherwise;
and (ii) arrange for a disposition by Fund VI of all or a portion
of the Common Shares over which Fund VI now or hereafter controls
or directs.
This news release is issued pursuant to National Instrument
62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting
Issues of the Canadian Securities Administrators, which
also requires an early warning report containing additional
information with respect to the foregoing to be filed with the
applicable Canadian securities regulators. Such early warning
report will be available under Lycos's profile at
www.sedarplus.ca.
The head office of Lycos is located at 215 – 2nd
Street SW, Suite 1900, Calgary,
Alberta, T2P 1M4. The head office of CIP is located at 440
2nd Ave SW, Calgary,
Alberta, T2P 5E9.
SOURCE Carbon Infrastructure Partners