Gran Tierra Energy Inc. Transaction in Own Shares (7801J)

TIDMGTE

RNS Number : 7801J

Gran Tierra Energy Inc.

15 December 2022

GRAN TIERRA ENERGY INC.

Company Announcement - Transaction in Own Shares

December 15, 2022

On August 29, 2022 Gran Tierra Energy Inc. ("Gran Tierra") announced a normal course issuer bid (the "NCIB") through the facilities of the Toronto Stock Exchange ("TSX"). The Company received regulatory approval from the TSX on August 30, 2022 to commence the 2022 NCIB. Pursuant to the NCIB, Gran Tierra may, for a one year period, purchase for cancellation or hold to satisfy awards granted under Gran Tierra's 2007 Equity Incentive Plan (the "2007 Equity Incentive Plan") up to 36,033,969 of its shares of common stock at prevailing market prices at the time of purchase. The NCIB commenced on September 1, 2022 and will expire on August 31, 2023, or earlier if the 10.00% share maximum is reached. The purpose of the NCIB is to reduce the share capital of Gran Tierra or to satisfy awards granted under the 2007 Equity Incentive Plan.

The following transactions were made under the NCIB during the period December 8 to December 12, 2022:

 
 Transaction Date     Daily total volume     Daily volume      Gross Value (CAD) 
                          (# Shares)        weighted average 
                                            price of shares 
                                             acquired (CAD) 
 December 8, 2022          514,658               $1.31            $673,323.98 
 December 9, 2022          514,658               $1.29            $664,874.48 
 December 12, 2022         514,658               $1.29            $666,199.66 
 TOTAL                    1,543,974              $1.30           $2,004,398.12 
 
 
 Pro Forma Outstanding Shares 
   shares June 30                           368,871,685 
  ------------------------------  ------------------------- 
   options exercised                                 26,934 
  ------------------------------  ------------------------- 
   Updated Outstanding Shares 
    as of December 12                       368,898,619 
  ------------------------------  ------------------------- 
 
 
 Exchange Aggregated Data 
              Platform    Dec. 8,   Dec. 9,   Dec. 12, 
                             2022      2022       2022 
             ----------  --------  --------  --------- 
   Volume        TSX      180,100    22,300      2,300 
             ----------  --------  --------  --------- 
          Pure              2,558        58         58 
 ----------------------  --------  --------  --------- 
          Chi-X           130,400    40,200     55,500 
 ----------------------  --------  --------  --------- 
          Omega            58,200   178,800    268,800 
 ----------------------  --------  --------  --------- 
         TriAct                 0         0          0 
 ----------------------  --------  --------  --------- 
          Alpha            27,100    60,000     48,200 
 ----------------------  --------  --------  --------- 
          CNSX              5,400    21,400     10,800 
 ----------------------  --------  --------  --------- 
          LYNX              8,800     3,400      8,000 
 ----------------------  --------  --------  --------- 
           NEO            102,100   188,500    121,000 
 ----------------------  --------  --------  --------- 
   Volume 
  weighted 
   average 
    price 
    (CAD)        TSX        $1.31     $1.28      $1.30 
             ----------  --------  --------  --------- 
          Pure              $1.31     $1.31      $1.27 
 ----------------------  --------  --------  --------- 
          Chi-X             $1.30     $1.30      $1.28 
 ----------------------  --------  --------  --------- 
          Omega             $1.31     $1.29      $1.30 
 ----------------------  --------  --------  --------- 
               TriAct           -         -          - 
             ----------  --------  --------  --------- 
          Alpha             $1.31     $1.29      $1.30 
 ----------------------  --------  --------  --------- 
          CNSX              $1.31     $1.31      $1.30 
 ----------------------  --------  --------  --------- 
          LYNX              $1.31     $1.30      $1.30 
 ----------------------  --------  --------  --------- 
           NEO              $1.31     $1.29      $1.29 
 ----------------------  --------  --------  --------- 
 

All transactions were made under ISIN US38500T1016 and effected by RBC Dominion Securities Inc. on behalf of Gran Tierra. A full breakdown of the individual trades is attached to this announcement. Following the above transactions, Gran Tierra will have 368,898,619 issued and outstanding shares.

Please click on link for a full breakdown of the individual trades to this announcement.

http://www.rns-pdf.londonstockexchange.com/rns/7801J_1-2022-12-15.pdf

Contact Information:

Gary Guidry

Chief Executive Officer

Ryan Ellson

Chief Financial Officer

Rodger Trimble

Vice President, Investor Relations

[phone]

[e-mail]

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December 15, 2022 02:00 ET (07:00 GMT)