Miramar will conduct C$10 million placement of subscription receipts

Receipts will convert to of 0.4 of a Petro Vista Energy common share

By Devika Patel

Knoxville, Tenn., June 5 - Miramar Hydrocarbons Ltd. said it will price a private placement of subscription receipts to raise at least C$10 million. The deal will be conducted in connection with the company's planned business combination with Petro Vista Energy Corp.

The subscription receipts will be exchangeable into Petro Vista common shares immediately prior to the acquisition on the basis of 0.4 of a Petro Vista common share for each receipt.

The private oil and gas company is based in Calgary, Alta. Petro Vista Energy is an oil and gas exploration and production company based in Vancouver, B.C.

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