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Energy Stock News - Alpine Summit Energy Partners (TSXV: ALPS.U) Announces Closing of Development Partnership Put Right

 

Nashville, Tennessee and Vancouver, British Columbia - February 3, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Alpine Summit Energy Partners, Inc. (TSXV: ALPS.U) (NASDAQ: ALPS) ("Alpine Summit" or the "Company") is pleased to announce that it has completed the previously announced (on January 20, 2023) exercise by six partners of the put right provided by the Company's fifth development partnership ("DP5"). On February 2, 2023, following receipt of approval from the TSX Venture Exchange, 499,794 Class B non-voting units of HB2 Origination, LLC (which are exchangeable on a one-for-one basis for Subordinate Voting Shares of the Company) were issued to these partners. Two of the DP5 partners (both of whom are insiders) exchanged their interests at a deemed value of US$5.23 per unit and the remaining four DP5 partners exchanged their interests at a deemed value of US$5.01 per unit.

About Alpine Summit Energy Partners, Inc.

Alpine Summit is a U.S. based company that operates and develops oil and gas assets. For additional information on the Company, please visit www.alpinesummitenergy.com.

For further information, please contact:

Alec Sheaff, Director, Business Development and Investor Relations
Phone: 615.475.8320
Email: asheaff@alpsummit.com

Darren Moulds, Chief Financial Officer
Phone: 403.390.9260
Email: dmoulds@alpsummit.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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