HOUSTON, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Corporation”), announces that it has received Toronto Stock Exchange (“TSX”) approval to a Notice of Intention to commence a normal course issuer bid through the facilities of the TSX, permitting the Corporation to repurchase, for cancellation, up to 2,752,285 of the 55,045,705 common shares issued and outstanding as at February 20, 2018 (the “common share NCIB”).  This represents 5.0% of the issued and outstanding common shares.  The average daily trading volume for the last six completed calendar months was 17,604 common shares.  The number of shares to be purchased in any one day shall not exceed 4,401 common shares (being 25% of the average daily trading volume).  The common share NCIB will commence on March 1, 2018, and run until the earlier of the date on which purchases under the bid have been completed and February 28, 2019.

The common share NCIB purchases are to be made through the facilities of the TSX in accordance with its policy statements on normal course issuer bids.  The price, which Epsilon will pay for any common shares, will be the market price at the time of acquisition plus brokerage fees.  Purchases may commence on March 1, 2018, and will terminate no later than February 28, 2019.

To the knowledge of the directors and officers of Epsilon, no director or officer, associate of a director or officer of the Corporation, no person acting jointly or in concert with the Corporation nor any person holding 10 percent or more of the common shares has any present intention to sell common shares during the period of the normal course issuer bid.

Epsilon believes that the market price of the common shares does not fully reflect the value of its business and its future business prospects and represents an attractive investment opportunity.  Epsilon currently has uncommitted cash available which it can use for these bids and the Corporation is of the view that long-term value for its remaining shareholders will be enhanced.

About Epsilon Energy Ltd.

Epsilon Energy Ltd. is a North American onshore exploration and production company with a current focus in the Marcellus Shale in Pennsylvania. 

Forward-Looking Statements

Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.

For further information please contact:

281-670-0002

Michael Raleigh
Chief Executive Officer
[email protected]

Website: www.epsilonenergyltd.com

Special note for news distribution in the United States
The securities described in the news release have not been registered under the United Stated Securities Act of 1933, as amended, (the “1933 Act”) or state securities laws. Any holder of these securities, by purchasing such securities, agrees for the benefit of Epsilon Energy Ltd. (the “Corporation”) that such securities may not be offered, sold, or otherwise transferred only (A) to the Corporation or its affiliates; (B) outside the United States in accordance with applicable state laws and either (1) Rule 144(as) under the 1933 Act or (2) Rule 144 under the 1933 Act, if applicable.