TIDMPTAL
RNS Number : 9291R
PetroTal Corp.
11 July 2022
Director Dealing and TVR
Calgary, AB and Houston, TX - July 11, 2022-PetroTal Corp.
("PetroTal" or the "Company") (TSX--V: TAL, AIM: PTAL and OTC:
PTALF) announces that Manuel Pablo Zuniga-Pflucker, Director,
President and Chief Executive Officer, exercised all of his
performance warrants in respect of 9,961,700 Common Shares at
US$0.1869/share on July 5, 2022. The exercise represented a value
of approximately US$1.9 million, and was funded on a net share
basis, based on a 20-day volume weighted average trading value,
thereby resulting in the acquisition by Mr. Zuniga-Pflucker of
6,997,020 new Common Shares.
Additionally, Mr. Zuniga-Pflucker disposed of 6,800,000 Common
Shares on July 8, 2022, at an average price of 41.3049 pence/share.
The sale was primarily to fund normal course personal tax
liabilities associated with the recent vesting of Performance Share
Units ("PSUs") and the Performance Warrants.
As a result of these transactions, Mr. Zuniga-Pflucker's total
beneficial interest in the Company increases to 4,659,135 Common
Shares, and he continues to hold 11,791,695 PSUs, convertible into
Common Shares.
The Company also notes the announcement by Pareto Securities AS
on July 8, 2022 in which it announced it placed 38,781,157 Common
Shares by an unnamed Shareholder in the Company. The Company will
provide further updates as and when information becomes
available.
Admission to trading on AIM
Application will be made for admission of the 6,997,020 Common
Shares, which will rank pari passu with existing Common Shares, to
trading on AIM ("Admission"), which is expected to occur on or
around July 15, 2022.
Following Admission, the Company will have 851,717,659 common
shares issued and there are no shares held in treasury. This figure
may be used by shareholders as the denominator for the calculations
to determine if they are required to notify their interest in, or a
change of their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Manuel Pablo Zuniga-Pflucker
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status President and Chief Executive Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name PetroTal Corp
-------------------------------------------------------- -------------------------------------------------------
b) LEI 21380047ER33PRH4XH56
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of PetroTal Corp Common Shares
instrument PetroTal Corp. Performance Warrants
Identification code
ISIN: CA71677J1012
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction The acquisition of Common Shares of no par value each
in the Company, by way of Performance
Warrant exercise.
The sale of Common Shares of no par value each in the
Company.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price Volume
US$0.1869/share 6,997,020
41.3049 pence/share 6,800,000
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction July 5, 2022
July 8, 2022
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction TSX Venture Exchange
-------------------------------------------------------- -------------------------------------------------------
ABOUT PETROTAL
PetroTal is a publicly traded, tri--quoted (TSXV: TAL, AIM: PTAL
and OTC: PTALF) operationally prudent and sustainable Peruvian oil
operator that owns 100% working interest in Blocks 95 and 107 with
its current development focus at the Bretana oilfield in Block 95.
The Company is headquartered in Houston, Texas with operational and
legal offices in Lima, Peru and Calgary, Alberta, Canada,
respectively. Over a period of four years, starting in late 2017,
the PetroTal team was able to take a greenfield resource project
and transform it into Peru's largest crude oil producer reaching
over 20,000 bopd in December 2021. PetroTal now has a substantial
and de-risked repeatable drilling inventory to provide investors
with free cash flow and growth for many years ahead while actively
building new initiatives to champion ESG development. For further
information, please see the Company's website at
www.petrotal-corp.com , the Company's filed documents at
www.sedar.com , or below:
Douglas Urch
Executive Vice President and Chief Financial Officer
Durch@PetroTal-Corp.com
T: (713) 609-9101
Manuel Pablo Zuniga-Pflucker
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101
Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
T : 44 (0) 208 434 2643
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
T: 44 (0) 207 409 3494
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
Tel: +44 (0) 20 7710 7600
Auctus Advisors LLP (Joint Broker)
Jonathan Wright
T: +44 (0) 7711 627449
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END
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July 11, 2022 02:00 ET (06:00 GMT)
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