Court of Queen’s Bench of Alberta Approves Painted Pony’s Proposed Transaction with Canadian Natural Resources Limited
October 02 2020 - 5:57PM
Painted Pony Energy Ltd. (“
Painted Pony”)
(
TSX: PONY) today announces that
the Court of Queen’s Bench of Alberta has granted a final order
approving the previously announced proposed transaction with
Canadian Natural Resources Limited (
TSX, NYSE:
CNQ) (the “
Arrangement”). The Arrangement
was approved by more than 88% of shareholders and optionholders
(voting together as a single class) who voted at a special meeting
of Painted Pony held on October 1, 2020. The Arrangement is still
subject to other standard conditions to closing.
Additional information regarding the Arrangement is
provided in the management information circular of Painted Pony
dated August 31, 2020, which is available on the SEDAR website at
www.sedar.com under Painted Pony’s profile. Assuming the
satisfaction of the remaining conditions to closing, the
transaction is expected to close on or about October 6, 2020.
DEFINITIONS AND ADVISORIES
Currency: All amounts referred
to in this press release are stated in Canadian dollars unless
otherwise specified.
Forward-Looking Information:
This press release contains certain forward-looking information
within the meaning of Canadian securities laws. Forward-looking
information relates to future events or future performance and is
based upon Painted Pony’s current internal expectations, estimates,
projections, assumptions and beliefs. All information other than
historical fact is forward-looking information. Words such as
“expect”, “anticipate”, “may”, “will”, “proposed” and other similar
words that indicate events or conditions may occur are intended to
identify forward-looking information. More particularly and without
limitation, this press release contains forward looking information
relating to the ability of the parties to satisfy the other
conditions to, and to complete, the Arrangement; and the
anticipated timing of the closing of the Arrangement.
The forward-looking information provided in this
press release is provided in reliance on certain assumptions that
Painted Pony believes are reasonable at this time, including
assumptions as to the ability of the parties to satisfy, in a
timely manner, the remaining conditions to the closing of the
Arrangement.
By its nature, forward-looking information is
subject to numerous risks and uncertainties, some of which are
beyond Painted Pony’s control. Completion of the Arrangement is
subject to a number of conditions which are typical for
transactions of this nature. Failure to satisfy any of these
conditions may result in the termination of the Arrangement. The
foregoing list is not exhaustive. Additional information on these
and other risks that could affect completion of the Arrangement are
set forth in the management information circular, which is
available on SEDAR at www.sedar.com. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking information. The actual results could differ
materially from those expressed in, or implied by, this
forward-looking information and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
information will transpire or occur, or if any of them do so, what
benefits that Painted Pony will derive therefrom.
Painted Pony disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.
ABOUT PAINTED PONY
Painted Pony is a publicly traded natural gas
company based in Western Canada. Painted Pony is primarily focused
on the development of natural gas and natural gas liquids from the
Montney formation in northeast British Columbia. Painted Pony’s
common shares trade on the TSX under the symbol “PONY”.
Contact Information:Patrick R.
WardPresident and Chief Executive Officer
Stuart W. JaggardChief Financial Officer
Jason W. FleuryDirector, Investor Relations(403)
776-3261
(403) 475-04401-866-975-0440 toll
freeir@paintedpony.cawww.paintedpony.ca
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