Cub Energy Inc. Reports Increased Share Ownership by its Largest Shareholder
Published : September 26, 2013
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HOUSTON, TEXAS--(Marketwired - Sept. 26, 2013) - Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB) announced today that its largest shareholder, Pelicourt Limited ("Pelicourt"), has informed the Company it has acquired additional common shares of Cub on the open market. Cub's Chairman and Chief Executive Officer, Mikhail Afendikov, owns a 31% interest in Pelicourt, and Cub's Senior Advisor, Robert J. Bensh, owns a 7% interest in Pelicourt, and is Managing Director of Pelicourt.

Pelicourt currently owns 123.3 million common shares of Cub representing approximately 39.5% of the issued and outstanding common shares of the Company. Of the Pelicourt holdings, Mr. Afendikov controls 38.2 million common shares of Cub representing approximately 12.2% of the Company's issued and outstanding common shares. Through his interest in Pelicourt, Mr. Bensh controls 8.6 million common shares of Cub, representing approximately 2.8% of the Company's issued and outstanding common shares. 

Pelicourt has advised Cub that it intends to acquire additional common shares for investment purposes. The common shares will be acquired through the facilities of the TSX Venture Exchange. Pelicourt has indicated that they will review their holdings from time to time and that they may increase or decrease their position as future circumstances may dictate.

About Cub Energy Inc.

Cub Energy Inc. (TSX VENTURE:KUB) is an upstream oil and gas company, with a proven track record of exploration and production cost efficiency in the Black Sea region. The Company's strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing oil and gas assets within a high pricing environment.

For further information please contact us or visit our website www.cubenergyinc.com.

Reader Advisory

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Cub Energy Inc.
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com
or
Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations
(713) 577-1955
lionel.mcbee@cubenergyinc.com
www.cubenergyinc.com

Silver Spruce Resources Inc.

EXPLORATION STAGE
CODE : SSE.V
ISIN : CA8282291043
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Silver Spruce Res. is a gold exploration company based in Canada.

Silver Spruce Res. holds various exploration projects in Canada.

Its main exploration properties are CMB E, SEAL LAKE/SEAL LAKE NORTH, MOUNT BENEDICT, T-649 / SUPER 7, MAKKOVIK RIVER, TOKIALUK BAY, STRAITS, DOUBLE MER, CENTRAL MINERAL BELT, SNEGAMOOK, CENTRAL NEWFOUNDLAND (CNL), TWO TIME ZONE, HUDSON BAY, CALVIN LANDING and BIG EASY in Canada and CENTAURO in Mexico.

Silver Spruce Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 779 076 as of today (US$ 622 912, € 545 671).

Its stock quote reached its highest recent level on February 11, 2011 at CA$ 3.60, and its lowest recent point on October 24, 2014 at CA$ 0.01.

Silver Spruce Res. has 31 163 053 shares outstanding.

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Financings of Silver Spruce Resources Inc.
4/9/2015Announces Private Placement
10/22/2012Announces Non=2Dbrokered Private Placement of Super Flow=2DT...
8/23/2010Private placement of up to $150,000 (non-flow-through)
8/16/2010Private placement of up to $400,000
12/31/2009Closing of private placements for $1,015,000 with MineralFie...
12/16/2009Private placement of up to $260,000 (non-flow-through)
12/14/2009Private placement of up to $700,000
5/25/2009Raises $315,000 in Flow Through Funds
11/14/2007Raises $6,325,000 in Flow Through Funds
10/17/2007Raise Up to $5,750,000 in Flow-Through Funds
6/22/2007Private placement of $1,788,000
Option Grants of Silver Spruce Resources Inc.
5/3/2010Grant of Stock Options
2/12/2009Announces Stock Options
Nominations of Silver Spruce Resources Inc.
6/16/2011Reports Management Changes
Project news of Silver Spruce Resources Inc.
1/16/2015(Big Easy)Encouraged by High Silver Values in "Classic" Quartz Adulari...
9/26/2013Cub Energy Inc. Reports Increased Share Ownership by its Lar...
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9/18/2012(Big Easy)s Exploration and Research Activity on the Big Easy Gold=2FS...
9/18/2012(Big Easy)s Exploration and Research Activity on the Big Easy Gold/Sil...
8/8/2012Acquires Labrador Uranium Property
7/17/2012(Big Easy)Completes Phase Two Diamond Drilling Programon Big Easy Gold...
9/13/2011(Central Mineral Belt)on Exploration on the MRT REE and CMBJV Uranium Projects, La...
7/15/2011(Central Mineral Belt)Reports Start of Field Work Including Planned Diamond Drilli...
7/14/2011Reports Results Of Diamond Drilling Krissy Trend - Rambler S...
6/23/2011(Big Easy)Reports Discovery of New Mineralized Alteration Zone 3.5 km ...
6/7/2011(Big Easy)Reports on Phase 1 Drilling on Big Easy Gold/Silver Property...
6/1/2011s Exploration Activity and Plans for Summer Program
4/8/2011(Big Easy)Reports on Ongoing Diamond Drilling Program, Big Easy Gold/S...
3/30/2011(Big Easy)Reports on Start of Diamond Drilling Road accessible, Big Ea...
3/29/2011(Popes's Hill)Reports on Diamond Drilli
2/17/2011Options U/ REE property on the Pope's Hill Trend Trans Labra...
2/8/2011(Popes's Hill)Begins Drill Program on P
1/29/2011(Popes's Hill)Acquisition of Extension Claims and Planned Diamond Drilling...
7/6/2010(Straits)Reports On Results Of Ree Analyses For Rock Samples
5/27/2010(Straits)REE (Lanthanum) And Thorium Results-Straits
2/23/2010(Centauro)Results for Northeast Area - 2nd Phase Drill Program
12/1/2009(Central Mineral Belt)New Uranium zones discovered on CMBJV
9/15/2009(Calvin Landing)Exploration Results Newfoundland Gold and Base Metal Propert...
9/10/2009(Centauro)Provides Updates on Newfoundland and Mexico Gold Exploration...
7/8/2009(Centauro)2nd Phase Drill Program Planned - Centauro Project, Chihuahu...
7/7/2009(Centauro)2nd Phase Drill Program Planned - Centauro Project, Chihuahu...
6/26/2009(Brook)Reports On Geochemical Results 20th Brook Lead/Zinc Property...
1/20/2009(Centauro)Final Drill Results Received from Centauro Project
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12/18/2008(Hudson Bay)and Azimut Report Results - Hudson Bay Project, Nunavik, Que...
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6/17/2008(Central Mineral Belt)Update on Drilling - Mount Benedict Property, Central Minera...
6/5/2008(Central Newfoundland (cnl))Reports Altered / Mineralized Felsic Volcanics – CNL Propert...
5/13/2008(Centauro) Drilling Begins on the Centauro Gold-Silver Property, Chihu...
4/24/2008(Snegamook) Encounters Wide Zones of Uranium Mineralization on Snegamoo...
2/27/2008(Centauro)Anomalous Gold, Silver and Mercury in Soils on Centauro Prop...
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1/8/2008(Snegamook)2008 Winter Program Begins on Snegamook and Mount Benedict P...
8/30/2007Third Phase Drill Program Intersects 17m of 0.109% U3O8
8/2/2007MORE HIGH GRADE URANIUM VALUES FROM THE 649 SHOWING AREA ON ...
7/26/2007High Grade Uranium Mineralization Discovered On Mount Benedi...
6/21/2007(Snegamook)32 meters of 0.103% U308 Discovered in Third Phase Drilling ...
Corporate news of Silver Spruce Resources Inc.
4/21/2016Silver Spruce Resources Inc Announces Closing of Non --Broke...
3/21/2016Silver Spruce Resources Reports Board of Director Changes
11/5/2015Silver Spruce Withdraws September Private Placement and File...
9/28/2015IIROC Trading Resumption - SSE
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9/28/2015IIROC Trading Halt - SSE
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8/12/2015Silver Spruce Files Maiden NI 43-101 Report on Pino de Plata...
7/3/2015Silver Spruce Resources Announces Shares for Debt Settlement
6/29/2015Silver Spruce Resources Reports Additions to Its Board and A...
4/22/2015Silver Spruce Resources Bi-Weekly Filing Update
4/9/2015Silver Spruce Resources Inc. Announces Private Placement
4/8/2015Silver Spruce Resources Bi-Weekly Filing Update
3/25/2015Bi-Weekly Filing Update
3/25/2015Silver Spruce Resources Bi-Weekly Filing Update
3/12/2015Announcement
3/12/2015Silver Spruce Resources Announcement
2/26/2015Silver Spruce Resources Reports Management Changes
1/16/2015Silver Spruce Encouraged by High Silver Values in "Classic" ...
11/7/2014Silver Spruce Resources Closes Private Placement and Begins ...
10/30/2014Silver Spruce Resources Completes Consolidation and Closes F...
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9/26/2013(Big Easy)Reports on Independent Assessment of its Big Easy Epithermal...
8/13/2013(Big Easy)s Results on Big Easy Epithermal Au/Ag Zone
4/19/2013Reports on Results of AGM Vote and Internal Loan
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10/18/2012(Big Easy)Completes Airborne Survey and Receives Check Assays for the ...
8/28/2012(Central Mineral Belt)Reports on Central Mineral Belt=2C Labrador Uranium Holdings
8/16/2012(Big Easy)Reports Encouraging Diamond Drilling Results from Big Easy ...
4/12/2012Announces Non-brokered
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9/16/2011Announces Review Process on Uranium Moratorium
8/31/2011Reports Continued Signifi
8/9/2011Reports More Significant
7/21/2011Reports Significant REE E
7/11/2011President's Letter
6/28/2011Starts Summer Exploration
6/24/2011Interview with Peter Dimmell, President & CEO
5/3/2011(Big Easy)Discovers Significant Gold/Silver Mineralization, Big Easy P...
2/22/2011s Drill Progress an
2/14/2011Renews Contract with Ascenta Capital Partners Inc. for Inves...
7/29/2010Updates Exploration Activities: Big Easy, Lobstick, Rambler ...
6/22/2010Reports on Activity on Claims with REE potential in Labrador
5/6/2010Acquisition of Claims with REE potential in Labrador
4/27/2010Reports Results for Uranium in Lake Sediments Lobstick Prope...
4/27/2010Reports Option of Gold / Silver Property and Results of Dril...
3/23/2010Begins Drilling on Rambler South and Lazyman Gold Properties
2/25/2010Reports on Metallics Assa
12/8/2009Reports Results for North Area - 2nd Phase Drill Program Cen...
12/1/2009Reports Significant Gold in Soil Geochemical Samples
10/29/2009Options New Uranium Prosp
10/22/2009Reports Gold Intersections in Drilling on Rambler South Prop...
9/29/2009Reports Discovery of Gold Zone - Rambler South Property
8/6/20092nd Phase Drill Program Begins - Centauro Project, Chihuahua...
7/16/2009Options Gold Prospect –
6/16/2009Completes First Pass Expl
6/3/2009Issues Options to New Director
5/26/2009Begins Exploration on the 20th Brook Lead/Zinc Property West...
12/4/2008Options Lead/Zinc Prospect -- Western Newfoundland
8/5/2008 Exploration on Labrador/Quebec Uranium and Mexico Gold-Silv...
5/5/2008Annual Options
4/29/2008 and Universal Uranium Ltd. Announce an Initial Mineral Reso...
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4/9/2008 and the Nunatsiavut Uranium Moratorium
4/7/2008 at the 2008 Calgary Resource Investment Conference
4/1/2008 Highlights
3/27/2008Drilling Begins on Mount Benedict Property, East End of Labr...
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2/21/2008(Cmbnw)Update on 2007 Exploration - CMBNW Property
2/21/2008(Cmbnw)and Universal Uranium Ltd.: Update on 2007 Exploration-CMBNW...
1/31/2008Options Double Mer Property to High Tide Resources
12/18/2007and Universal Uranium Ltd.: Completion of Definition Drillin...
12/6/20072008 Winter Drill Program Planned for Mount Benedict Propert...
11/26/2007Update on Exploration - Snegamook Property, Labrador
11/14/2007Second Drill Mobilized to the Two Time Zone for Resource Cal...
10/15/2007Third Phase Drill Program Update
9/14/2007Labrador Inuit Land
8/27/2007Announces No Exposure to Coventree Inc.
8/23/2007Announces Results of Lake Sediment and Prospecting Surveys -...
8/14/2007Dr. George Findlay Appointed New Director
7/10/2007Mount Benedict Property Start of Follow Up; Acquisition of N...
7/5/2007Announces Rock Sample Results and Completion of First Pass E...
6/26/2007Detailed Sampling Discovers Highly Anomalous Lake Sediments ...
6/18/2007and Universal Uranium Ltd. to Consolidate all Canadian Urani...
6/14/2007Announces Start of 2007 Summer Follow up
5/23/2007Drilling at Mother Lode Gold Property
5/15/2007Third Phase Drill Program Starts on CMB NW Property
4/11/2007and Universal Uranium Announce Further Significant Mineraliz...
2/26/2007Signs Investor Relations Agreement with Longview Capital Par...
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