03:49 PM EST - Calvalley Petroleum Inc. : announced that in accordance with its previous announcement, it has made an offer to purchase up to 15,000,000 of its outstanding Class A common voting shares at a purchase price of $2.45 per share. There are currently 94,329,159 shares outstanding. Assuming the maximum number of shares is taken up and paid for under the offer, the aggregate purchase price to Calvalley, before costs and expenses of the offer, will be $36,750,000, which Calvalley intends to finance with existing cash on hand. If more than 15,000,000 shares are tendered to the offer, the Company will purchase the Shares on a pro rata basis according to the number of shares deposited. Calvalley Petroleum Inc.
shares T.CVI.A are trading unchanged at $2.05.
