Dundee Energy Limited Announces Court Approval of Sale of Assets of Dundee Energy Limited Partnership
TORONTO, June 12, 2018 (GLOBE NEWSWIRE) -- Dundee Energy Ltd. (“Dundee Energy” or the “Corporation”) today announced that the sale transaction contemplated by an agreement of purchase and sale dated April 4, 2018, as amended, made by the debtors, Dundee Oil and Gas Limited on its behalf and on behalf of Dundee Energy Ltd. Partnership and Lagasco Inc., as purchaser, has been ratified and approved by the Ontario Superior Court of Justice (Commercial List). The Corporation anticipates that the closing of the transaction will be completed in the third quarter of 2018.
FORWARD-LOOKING STATEMENTS
Certain information set forth in this press release, including management's assessment of each of the Corporation’s future plans and operations, contains forward-looking statements. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and may include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions. In particular, forward-looking statements contained in this document include statements with respect to court approval and successful completion of the asset sale and other risk factors discussed or referred to in the section entitled “Business Risks” in the Corporation’s management’s discussion and analysis for the year ended December 31, 2017. 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 statements. Actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive from them. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT DUNDEE ENERGY LIMITED
Dundee Energy Ltd. is a Canadian-based oil and natural gas company with a mandate to create long-term value for its shareholders through the exploration, development, production and marketing of oil and natural gas, and through other high impact energy projects. Dundee Energy holds interests, both directly and indirectly, in the largest accumulation of producing oil and gas assets in Ontario and, through a preferred share investment, in certain exploration and evaluation programs for oil and natural gas offshore Tunisia.
All documentation in respect of the Corporation may be viewed under the Corporation’s profile on SEDAR at www.sedar.com or under the Corporation’s website at www.dundee-energy.com.
For further information, please contact:
Dundee Energy Ltd.
20th Floor,
1 Adelaide Street East
Toronto, ON M5C 2V9
Bruce Sherley, President & CEO
Telephone: (403) 651-4581
Telefax: (416) 363-4536
Website: www.dundee-energy.com
Email: BSherley@dundee-energy.com
