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Above market price transitional selling at Northern Blizzard Res. (:NBZ)

Updated Tuesday May 16, 2017 01:42 AM EDT

NGP IX Northern Blizzard S.A. R.L., a 10% Holder, disposed of 40,316,175 Common Shares on a direct ownership basis at a price of $3.600 through a private transaction on May 11th, 2017. This represents a $145,138,230 divestment of the company's shares and an account share holdings change of -100.0%.

In addition, R/C Canada Cooperatief U.A., a 10% Holder, disposed of 27,426,170 Common Shares on a direct ownership basis at a price of $3.600 through a private transaction on May 11th, 2017. This represents a $98,734,212 divestment of the company's shares and an account share holdings change of -100.0%.

See the company's May 11th press release for more details.

Northern Blizzard Res. is in the Oil & Gas Exploration and Production Sub Industry Group under the Energy Sector.

Northern Blizzard Resources Inc. is a Canada-based crude oil production and development company focused on maximizing oil recovery from its heavy oil resource base. The Company is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. The Company's properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac. The Company's operations, infrastructure and concentrated land position are focused in the Kerrobert and Lloydminster areas of Saskatchewan. The Company has a focused and concentrated asset base of approximately 189,800 net acres along the Alberta and Saskatchewan border with a discovered petroleum initially-in-place (DOIIP) resource base of approximately 2.1 billion barrels (bbls). Its two main areas are the Kerrobert Mississippian Bakken and Lloydminster Heavy Oil. The Company's subsidiary is 1545681 Alberta Inc.

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