The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Birchcliff Energy Ltd. Announces That Mr. Seymour Schulich Increases Ownership in Birchcliff Energy Ltd.

Thursday, April 05, 2012

Birchcliff Energy Ltd. Announces That Mr. Seymour Schulich Increases Ownership in Birchcliff Energy Ltd.00:10 EDT Thursday, April 05, 2012CALGARY, ALBERTA--(Marketwire - April 5, 2012) - THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR). Birchcliff is pleased to report that Mr. Seymour Schulich informed Birchcliff he has acquired control and direction over an additional 2,000,000 common shares of Birchcliff through the facilities of the Toronto Stock Exchange under the Normal Course Purchase Exemption.As a result of this purchase, Mr. Schulich currently owns or exercises control and direction over 35,000,000 common shares of Birchcliff. Mr. Schulich's current shareholdings represent approximately 27.6% of the current issued and outstanding common shares of Birchcliff. Mr. Schulich has advised Birchcliff that he has acquired the additional 2,000,000 common shares for investment purposes. Mr. Schulich has also agreed to acquire an additional 5,000,000 common shares of Birchcliff at $7.65 per common share by way of a Private Placement of treasury shares expected to close on or about April 19, 2012.Mr. Schulich has indicated that he will review his holdings from time to time and that he may increase or decrease his position as future circumstances may dictate.Birchcliff is a publicly traded company that trades on the TSX Exchange under the symbol "BIR".FOR FURTHER INFORMATION PLEASE CONTACT: Jeff TonkenBirchcliff Energy Ltd.President and Chief Executive Officer(403) 261-6401(403) 261-6424 (FAX)The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.