The Stirling Funds - Shareholder Press Release

LONDON, Oct. 27, 2015 /CNW/ - The Stirling Funds is issuing this press release with respect to the filing of an Early Warning Report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids.

Stirling purchased 3.5 million shares of Kicking Horse Energy Inc. (KCK: TSX-V) in the market on the Venture Exchange to increase its ownership to hold 11,130,000 Common Shares representing approximately 18% issued equity.

As a long term shareholder, Stirling has been and continues to be supportive of Kicking Horse's management and business strategy and believes the company's energy-rich asset base coupled with its relatively low leveraged balance sheet provides an attractive platform for sustainable growth.

The above securities are held for investment purposes. Depending upon the circumstances, The Stirling Funds may, from time to time, acquire additional securities of Kicking Horse Energy or dispose of all or a portion of the securities previously acquired.

The Stirling Funds are value-focused investment funds based in London, UK that hold a portfolio of diversified global securities principally in asset-rich companies trading at a discount to their underlying intrinsic value.

This press release is issued pursuant to the early warning report requirements of applicable securities laws in Canada, which also require a report to be filed on SEDAR, containing additional information with respect to the foregoing matters. An Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

SOURCE The Stirling Funds

Gordon Flatt, Chief Investment Officer, The Stirling Funds, [email protected], [phone]