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Message: Maurel & Prom Acquires 27.5 million Tuscany shares
The following comes from an "Early Warning Report dated March 19, 2013 on the SEDAR website related to Tuscany International Drilling:
"(2) Designation and number or principal amount of securities and the offeror’s
securityholding percentage in the class of securities of which the offeror acquired
ownership or control in the transaction or occurrence giving rise to the
obligation to file the news release, and whether it was ownership or control that
was acquired
On March 19, 2013, Établissements Maurel & Prom S.A. (“M&P”) acquired
ownership and control of 27,500,000 common shares (the “Issued Shares”) of
Tuscany International Drilling Inc. (the “Company”) by way of exercise of
27,500,000 previously issued warrants (the “Warrants”), which represents
approximately 7.32% of the issued and outstanding common shares of the Company
(the “Shares”) (based on the Company’s most recent Management’s Discussion and
Analysis for the period ended September 30, 2012 and calculated assuming the
exercise of the Warrants).
(3) Designation and number or principal amount of securities and the offeror’s
securityholding percentage in the class of securities immediately after the
transaction or occurrence giving rise to obligation to file the news release
Following the issuance of the Issued Shares to M&P noted in item 2 above, M&P
beneficially owns, directly and indirectly, an aggregate of 109,000,000 Shares,
representing approximately 29.05% of the outstanding Shares (based on the
Company’s most recent Management’s Discussion and Analysis for the period ended
September 30, 2012 and calculated assuming the exercise of the Warrants).
In a prior report filed under National Instrument 62-103 dated June 24, 2011 (the
Prior Report”), M&P erroneously stated that it had acquired beneficial ownership
over an aggregate of 110,000,000 Shares (comprised of 82,500,000 Shares and
27,500,000 Warrants). The correct number of Shares over which M&P acquired
beneficial ownership was 109,000,000 common shares (comprised of 81,500,000
common shares and 27,500,000 warrants), representing 29.05% of the outstanding
common shares of the Company at the time of the filing of the Prior Report."
Cheers; Scott
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