Dynex Energy S.A.
Exercise of the option to purchase 100% of Encore Resources Sarl
Luxembourg, 12 MAY 2015 – Dynex Energy S.A. (MLDYX) (the "Company") announces that it today has exercised the option, signed with Dr. Sobia Khan in November 2014, to purchase 100% of the share capital of Encore Resources Sarl for a total amount of € 20 million. The purchase price will be paid in newly issued shares of the Company.
Encore Resources S.a.r.l, a company incorporated in the Kingdom of Morocco, which has obtained six concessions for the exploration and extraction of Copper and Silver in the Aith Baha area (Souss-Massa-Draa region of Morocco) and one concession for the exploration and extraction of Iron Ore in the Taliouine area (Souss-Massa-Draa region of Morocco) by the Moroccan governmental authorities.
A preliminary valuation made by a third party appraiser reports a total value for the assets of approximately $ 280 million.
About Dynex Energy S.A.
Dynex Energy S.A. is an investment company based in Luxembourg focusing on commodities.
Dynex Energy S.A. owns 100% of Dynex Energy Holdings, Inc which is the Limited Partner (99.9% interest) in Dynex Petroleum LP (“Dynex LP”) a limited partnership involved in the acquisition and development of oil and gas properties in the United States for the production of crude oil and natural gas. Dynex Petroleum Management, LLC is the General Parter of Dynex LP.
This communication may contain forward-looking statements. Such forward-looking statements involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company. Actual results could differ materially from those discussed above. The Company's forward-looking statements in this communication are based on management's current views and assumptions regarding future events and speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by the federal securities laws.