CST: 24/06/2016 18:57:27   

The Sixth Energy Limited Announces the Acquisition of Securities of Caspian Energy Inc.

97 Days ago

CALGARY, ALBERTA and BEIJING, CHINA--(Marketwired - Mar 18, 2016) - The Sixth Energy Limited ("Sixth Energy") has filed an early warning report announcing that Sixth Energy acquired ownership and control over 122,879,055 common shares (the "Acquired Shares") of Caspian Energy Inc. (the "Corporation") representing approximately 26.5% of the issued and outstanding common shares (the "Common Shares") of the Corporation. The Acquired Shares were purchased pursuant to a share purchase agreement dated March 17, 2016 entered into among Sixth Energy, Meridian Capital International Fund and YF Finance Limited (the "Transaction").

Immediately following the completion of the Transaction, Sixth Energy directly owns (i) 277,833,421 Common Shares, representing approximately 59.9% of the currently issued and outstanding Common Shares, and (ii) 7,540,743 consideration warrants to acquire a further 7,540,743 Common Shares (the "Consideration Warrants"). Assuming the full exercise of the Consideration Warrants, Sixth Energy would own an aggregate of 285,374,164 Common Shares, representing approximately 60.6% of the then issued and outstanding Common Shares on a partially-diluted basis.

The Acquired Shares were acquired pursuant to the Transaction for an aggregate purchase price of US$320,000.00. The Common Shares are listed on the NEX Board of the TSX Venture Exchange and traded under the symbol "CKZ.H". Sixth Energy has a long-term view of the investment and, other than as set out below, Sixth Energy and any joint actors do not intend at this time to acquire additional securities of the Corporation, but may acquire additional securities of the Corporation either on the open market or through private acquisitions or sell securities of the Corporation either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Further information may be found in the news release issued by the Corporation in connection with the Transaction on March 18, 2016 through the facilities of Marketwired and filed on the System for Electronic Document Analysis and Retrieval (SEDAR).

This news release is being issued under the early warning provisions of Canadian provincial securities legislation. Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.

Baker & McKenzie LLP
Tracy Wut
+852 2846 1619