Gran Tierra Energy Inc. Transaction in Own Shares (2578L)

TIDMGTE

RNS Number : 2578L

Gran Tierra Energy Inc.

29 December 2022

GRAN TIERRA ENERGY INC.

Company Announcement - Transaction in Own Shares

December 29, 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 20 to December 23, 2022:

 
 Transaction Date     Daily total volume     Daily volume      Gross Value (CAD) 
                          (# Shares)        weighted average 
                                            price of shares 
                                             acquired (CAD) 
 December 20, 2022         514,658               $1.21            $621,725.76 
                     -------------------  ------------------  ------------------ 
 December 21, 2022         514,658               $1.31            $672,450.64 
                     -------------------  ------------------  ------------------ 
 December 22, 2022         514,658               $1.29            $663,020.74 
                     -------------------  ------------------  ------------------ 
 December 23, 2022         512,700               $1.30            $666,848.00 
                     -------------------  ------------------  ------------------ 
 TOTAL                    2,056,674              $1.28           $2,624,045.14 
                     -------------------  ------------------  ------------------ 
 
 
 Pro Forma Outstanding Shares 
   shares June 30                           368,871,685 
  ------------------------------  ------------------------- 
   options exercised                                 26,934 
  ------------------------------  ------------------------- 
   Updated Outstanding Shares 
    as of December 19                       368,898,619 
  ------------------------------  ------------------------- 
 
 
              Platform    Dec. 20,   Dec. 21,   Dec. 22,   Dec. 23, 
                              2022       2022       2022       2022 
   Volume        TSX         8,100     16,900     42,300     19,300 
             ----------  ---------  ---------  ---------  --------- 
          Pure                  58      2,558         58          0 
 ----------------------  ---------  ---------  ---------  --------- 
          Chi-X             57,800     24,100     76,800     41,000 
 ----------------------  ---------  ---------  ---------  --------- 
          Omega            207,700    225,400    278,000    281,000 
 ----------------------  ---------  ---------  ---------  --------- 
         TriAct                  0          0          0          0 
 ----------------------  ---------  ---------  ---------  --------- 
          Alpha             53,300     86,700     44,700     33,800 
 ----------------------  ---------  ---------  ---------  --------- 
          CNSX               5,900     20,300      2,100      8,800 
 ----------------------  ---------  ---------  ---------  --------- 
          LYNX              16,100      2,600      5,500      1,400 
 ----------------------  ---------  ---------  ---------  --------- 
           NEO             165,700    136,100     65,200    127,400 
 ----------------------  ---------  ---------  ---------  --------- 
   Volume 
  weighted 
   average 
    price 
    (CAD)        TSX         $1.21      $1.28      $1.30      $1.30 
             ----------  ---------  ---------  ---------  --------- 
          Pure               $1.22      $1.33      $1.28          - 
 ----------------------  ---------  ---------  ---------  --------- 
          Chi-X              $1.21      $1.30      $1.29      $1.30 
 ----------------------  ---------  ---------  ---------  --------- 
          Omega              $1.21      $1.31      $1.29      $1.30 
 ----------------------  ---------  ---------  ---------  --------- 
               TriAct            -          -          -          - 
             ----------  ---------  ---------  ---------  --------- 
          Alpha              $1.21      $1.30      $1.29      $1.31 
 ----------------------  ---------  ---------  ---------  --------- 
          CNSX               $1.21      $1.27      $1.30      $1.30 
 ----------------------  ---------  ---------  ---------  --------- 
          LYNX               $1.22      $1.29      $1.29      $1.29 
 ----------------------  ---------  ---------  ---------  --------- 
           NEO               $1.21      $1.31      $1.29      $1.31 
 ----------------------  ---------  ---------  ---------  --------- 
 

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/2578L_1-2022-12-29.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 30, 2022 02:00 ET (07:00 GMT)