Investors

Disclaimer

The purpose of this document is not to solicit the purchase or sale of shares (instruments financiers) and this document shall in no way constitutes a subscription offer.

An investment in the company may entail significant risks.

The previous performance of the company does not allow to foresee future results. Investors must make their decision to invest without referring to this publication. Only investors with sufficient knowledge and experience of financial mechanisms and of the activity allowing to measure inherent risks and opportunities of investment should consider it.

It is the responsibility of investors to check that the investment in the company complies with the French legislation to which they are submitted. According to French laws and regulations, VELCAN ENERGY is not a public company ("société faisant Appel Public à l’Epargne") and it has never solicit the approval of the Autorité des Marchés Financiers. In the same way, the company has never solicit the approval of foreign financial or other market authorities.

VELCAN ENERGY was directly listed on the "Marché Libre" (French over the counter market - OTC).

Since its listing on the "Marché Libre" (French OTC market), VELCAN ENERGY has completed four share capital increase, on 21 October 2005, 10 May 2006, 25 September 2007 and 24 October 2007, through private placement which were opened solely to qualified investors.*

VELCAN ENERGY was then transferred to the continuous trading market on NYSE-Alternext on 14th March 2011.

* according to articles L 411-2, II-4° and D 411-1 of the Monetary and financial Code

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