TORONTO, March 1, 2018 /CNW/ - Scott Lamacraft announces that his along with his joint actor's (collectively, the "Lamacraft Group") ownership interest in Valeura Energy Inc. ("VALEURA") has decreased below 10%. Mr. Lamacraft last filed an early warning report on January 7, 2015, at which time the Lamacraft Group owned and controlled approximately 14.7 % of the issued and outstanding shares of VALEURA (the "Shares") on a non-diluted basis. The Lamacraft Group currently owns and controls 7,319,800 Shares. Today, VALEURA announced the closing of its previously announced financing (the "Public Offering") whereby it issued 10,527,000 Shares increasing its issued and outstanding Shares to 83,775,321 per VALEURA's prospectus dated February 22, 2018. The issuance of Shares under the Public Offering reduced the Lamacraft Group's percentage interest in VALEURA from approximately 10% to 8.73% of issued and outstanding Shares.

The Lamacraft Group has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.  

VALEURA's head office is located at Bow Valley Square 1, Suite 1200, 202 - 6th Avenue SW, Calgary, Alberta T2P 2R9.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators, which also requires early warning reports to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report in respect of the foregoing matter will be available on VALEURA's issuer profile on SEDAR at www.sedar.com and may also be obtained by contacting Jeff Kennedy by telephone at (416) 362-6885 or by email at [email protected].

SOURCE Scott Lamacraft

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