Horizon Capital launches proxy contest in opposition to proposed transaction with Tecpetrol

On July 6, 2015, Horizon Capital Management Inc. issued a public statement calling upon all shareholders of Americas Petrogas Inc. to vote against the special resolution at the annual and special meeting of the Company currently scheduled to take place on July 29, 2015 that would approve the sale by the Company of all of the outstanding common shares of Americas Petrogas Argentina S.A. to Tecpetrol International S.A. and its affiliates and related transactions. On July 30, 2015, Americas Petrogras announced that 89.4% of the votes cast by shareholders at the meeting were voted in favour of the transaction. Aaron Atkinson and Bradley Freelan of Fasken Martineau advised one of the directors of Americas Petrogas in connection with this matter.