(Gran Tierra Energy Inc., 1.Mar.2017) – Gran Tierra Energy Inc. intends to implement a normal course issuer 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 for a one year period at prevailing market prices at the time of purchase.
Management of Gran Tierra believes 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.
***