GEORGE TOWN, Grand Cayman, Cayman Islands, March 18, 2016 /CNW/ – Meridian Capital International Fund (“Meridian”) announced today that, pursuant to a “sign and close” transaction among Meridian, YF Finance Limited (“YF Finance”) and The Sixth Energy Limited (“Sixth Energy”), Meridian and its affiliate YF Finance transferred to Sixth Energy 122,879,055 common shares (the “Shares”) of Caspian Energy Inc. (“Caspian”) being all of the Shares held by Meridian and YF Finance.

Meridian has now disposed of its entire holdings of Caspian and no longer has ownership or control of any Shares or other securities of Caspian, either alone or together with any joint actors. Meridian and YF Finance held the Shares for investment purposes only and have decided to sell the Shares in response to market conditions. Neither Meridian nor any of its joint actors have any present intention to acquire ownership of, or control over, additional securities of Caspian in the future.

This news release is being issued pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators.

A copy of the early warning report in respect of this transaction will be available at www.sedar.com.

SOURCE Meridian Capital International Fund

For further information: or for a copy of the early warning report filed in respect of the above, please contact: Paul Marchand, c/o Meridian Capital (HK) Limited, Level 23, 50 Connaught Road, Central, Hong Kong, Tel: +852 2239 5300, Email: [email protected]