West Face Capital Inc. Announces Reduction in Ownership of Shares of Mitra Energy Inc. ("Mitra")

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TORONTO, March 7, 2016 /CNW/ - West Face Capital Inc. ("West Face") announced today that West Face Long Term Opportunities Global Master L.P. ("GMF"), a fund managed by West Face, sold 5,249,019 common shares of Mitra Energy Inc. (TSX: MTE).  The sale was effected by way of a private agreement with a single purchaser, at $0.10 per common share in cash.

Following the completion of this transaction, GMF will hold 15,747,057 common shares representing approximately 19.4% of the outstanding common shares of Mitra. The remaining common shares of Mitra will continue to be held by the GMF for investment purposes.

Additional information is provided in the early warning report filed on www.sedar.com by West Face.

About West Face Capital Inc.

West Face Capital Inc. is one of Canada's leading alternative investment managers combining control-through-distressed, high-yield, negotiated finance, proactive equity, and private equity activities. West Face's capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise, and the ability to address investment targets in domestic and international markets.  

SOURCE West Face Capital Inc.

or a copy of the early warning report please contact: Philip Panet, General Counsel & Secretary, West Face Capital Inc., 2 Bloor Street East, Suite 3000, Toronto, Ontario, M4W 1A8, Tel: [phone]