CALGARY, Oct. 25, 2018 /CNW/ - Cequence Energy Ltd.
(TSX: CQE) ("Cequence" or the "Company") is pleased
to announce that it is proceeding with the consolidation of its
common shares ("Common Shares") as previously announced on
September 13, 2018 at a consolidation
ratio of twenty-to-one (20:1) (the "Share Consolidation").
On October 24, 2018 Cequence filed articles of amendment
to effect the Share Consolidation, and Cequence has received
approval from the Toronto Stock Exchange (the "TSX") for the
Common Shares to begin trading on the TSX on a post-consolidation
basis on October 29, 2018.
At a special meeting of the Company's shareholders held on
October 22, 2018, the shareholders
approved a special resolution to amend the Company's articles to
consolidate the Common Shares on the basis of one
post-consolidation Common Share for every twenty pre-consolidation
Common Shares. More information about the Share Consolidation can
be found in the Company's Notice of Meeting and Management
Information Circular dated September 20,
2018, a copy of which is available on SEDAR under the
Company's issuer profile, accessible at www.sedar.com.
As of October 24, 2018, the
Company had 491,055,766 Common Shares issued and outstanding. After
the Share Consolidation the Company will have 24,552,788 Common
Shares issued and outstanding. The new CUSIP number for the Common
Shares is 15671G506 and the new ISIN number is CA15671G5068.
A Letter of Transmittal with respect to the Share Consolidation
was mailed on October 1, 2018 to the
holders of Common Shares of record as of September 20, 2018. All registered shareholders
with physical certificates in hand will be required to send their
share certificates representing the pre-consolidated Common Shares
along with a completed Letter of Transmittal to the Company's agent
for the Share Consolidation, Computershare Investor Services Inc.
("Computershare"), in Toronto,
Ontario, all in accordance with the instructions provided in
the Letter of Transmittal. Additional copies of the Letter of
Transmittal can be obtained through Computershare (by phone at 1
(800) 564-6253) or by email at corporateactions@computershare.com).
A copy of the Letter of Transmittal is also available under the
Company's issuer profile on SEDAR. All shareholders who submit a
duly completed Letter of Transmittal along with their respective
pre-consolidated share certificate(s) to Computershare will receive
in return a new share certificate representing their
post-consolidation Common Shares.
About Cequence
Cequence is a publicly-traded Canadian energy company involved
in the acquisition, exploitation, exploration, development and
production of natural gas and crude oil in western Canada. Further information about Cequence may
be found in its continuous disclosure documents filed with Canadian
securities regulators at www.sedar.com.
Forward-looking Statements or Information
Certain statements included in this press release constitute
forward-looking statements or forward-looking information under
applicable securities legislation. Such forward-looking statements
or information are provided for the purpose of providing
information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as
making investment decisions. Forward-looking statements or
information typically contain statements with words such as
"anticipate", "believe", "expect", "plan", "intend", "estimate",
"propose", "project" or similar words suggesting future outcomes or
statements regarding an outlook. Forward-looking statements or
information in this press release include, but are not limited to
the timing for the Common Shares to begin trading on the TSX on a
post-consolidation basis and the delivery by Computershare of new
share certificates to shareholders representing the consolidated
Common Shares. Forward-looking statements or information are based
on a number of factors and assumptions which have been used to
develop such statements and information but which may prove to be
incorrect. Although the Company believes that the expectations
reflected in such forward-looking statements or information are
reasonable, undue reliance should not be placed on forward-looking
statements because the Company can give no assurance that such
expectations will prove to be correct. In addition to other factors
and assumptions which may be identified in this press release,
assumptions have been made regarding, among other things, the
timely receipt of TSX approval for the Share Consolidation, and any
other required regulatory approvals. Readers are cautioned that the
foregoing is not exhaustive of all factors and assumptions which
have been used.
Forward-looking statements or information are based on
current expectations, estimates and projections that involve a
number of risks and uncertainties which could cause actual results
to differ materially from those anticipated by the Company and
described in the forward-looking statements or information. These
risks and uncertainties may cause actual results to differ
materially from the forward-looking statements or information. The
material risk factors affecting the Company and its business are
contained in the Company's Annual Information Form which is
available on SEDAR at www.sedar.com.
The forward-looking statements or information contained in
this press release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise unless required by
applicable securities laws. The forward-looking statements or
information contained in this press release are expressly qualified
by this cautionary statement.
SOURCE Cequence Energy Ltd.