CALGARY, Feb. 27, 2019 /CNW/ - (TSX: EGL):
Eagle Energy Inc. announces, at the request of IIROC on behalf
of the Toronto Stock Exchange, that Eagle's management is unaware
of any material change in Eagle's operations that would account for
the recent increase in market activity.
While Eagle cannot identify any specific motive for the recent
market trading, shareholders are aware, based upon previous news
releases, that the limited forbearance agreement between Eagle and
its lender expired on January 31,
2019 and that Eagle continues to work diligently with its
lender to resolve the situation, upon which an update will be
provided. Eagle also continues to work with its financial
advisors to investigate, evaluate and consider possible asset sales
and restructuring alternatives available to it. Eagle does
not intend to comment further regarding this review process unless
a specific transaction or other alternative is approved by the
board of directors of Eagle, the review process is concluded or it
is otherwise determined that further disclosure is appropriate or
required by law.
About Eagle Energy Inc.
Eagle is an oil and gas corporation with shares listed for
trading on the Toronto Stock Exchange under the symbol "EGL".
All material information about Eagle may be found on its website
at www.EagleEnergy.com or under Eagle's issuer profile at
www.sedar.com.
SOURCE Eagle Energy Inc.