SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of December, 2023
Commission File Number 001-36258
Crescent Point Energy Corp.
(Name of Registrant)
Suite 2000, 585 - 8th Avenue S.W.
Calgary, Alberta, T2P 1G1
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form
40-F ☒
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Crescent Point Energy Corp. |
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(Registrant) |
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By: |
/s/ Ken Lamont |
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Name: |
Ken Lamont |
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Title: |
Chief Financial Officer |
Date: December 22, 2023
EXHIBIT INDEX
2
Exhibit 99.1
Form 62-103F1
Required Disclosure under the Early
Warning Requirements
State if this report is filed to amend information
disclosed in an earlier report. Indicate the date of the report that is being amended.
Not applicable.
Item 1 –
Security and Reporting Issuer
1.1 | State the designation of securities to which this report relates and the name and address of the head
office of the issuer of the securities. |
This report relates to the Class A common
shares (each, a “Common Share”) in the capital of Hammerhead Energy Inc. (“Hammerhead”).
The head office of Hammerhead is located
at:
Suite 2700, 525 – 8th Avenue S.W.
Calgary, Alberta, T2P 1G1
1.2 | State the name of the market in which the transaction or other occurrence that triggered the requirement
to file this report took place. |
Not applicable.
Item 2 –
Identity of the Acquiror
2.1 | State the name and address of the acquiror. |
Crescent Point Energy Corp. (the “Purchaser”)
Suite 2000, 585 – 8th Avenue SW
Calgary, Alberta, T2P 1G1
The Purchaser exists under the Business
Corporations Act (Alberta) (the “ABCA”). The Purchaser is a conventional oil and gas producer with assets strategically
focused in properties comprised of high quality, long life, operated, light and medium crude oil, natural gas liquids and natural gas
reserves in Western Canada.
2.2 | State the date of the transaction or other occurrence that triggered the requirement to file this report
and briefly describe the transaction or other occurrence. |
On December 21, 2023, the Purchaser
acquired all of the issued and outstanding Common Shares, pursuant to a court-approved plan of arrangement under Section 193 of the ABCA
(the “Arrangement”).
The Arrangement was completed in accordance
with the arrangement agreement dated November 6, 2023 between the Purchaser and Hammerhead (the “Agreement”).
2.3 | State the names of any joint actors. |
Not
applicable.
Item 3 –
Interest in Securities of the Reporting Issuer
3.1 | State the designation and number or principal amount of securities acquired or disposed of that triggered
the requirement to file this report and the change in the acquiror’s securityholding percentage in the class of securities. |
Prior to the Arrangement, the Purchaser
did not hold any Common Shares.
Pursuant to the Arrangement, on December
21, 2023, the Purchaser acquired 99,629,831 Common Shares, representing 100% of the issued and outstanding Common Shares.
3.2 | State whether the acquiror acquired or disposed ownership of, or acquired or ceased to have control over,
the securities that triggered the requirement to file this report. |
See Item 3.1.
3.3 | If the transaction involved a securities lending arrangement, state that fact. |
Not applicable.
3.4 | State the designation and number or principal amount of securities and the acquiror’s securityholding
percentage in the class of securities, immediately before and after the transaction or other occurrence that triggered the requirement
to file this report. |
See Item 3.1.
3.5 | State the designation and number or principal amount of securities and the acquiror’s securityholding
percentage in the class of securities referred to in Item 3.4 over which |
| (a) | the acquiror, either alone or together with any joint actors, has ownership and control, |
See Item 3.1.
| (b) | the acquiror, either alone or together with any joint actors, has ownership but control is held by persons
or companies other than the acquiror or any joint actor, and |
Not applicable.
| (c) | the acquiror, either alone or together with any joint actors, has exclusive or shared control but does
not have ownership. |
Not applicable.
3.6 | If the acquiror or any of its joint actors has an interest in, or right or obligation associated with,
a related financial instrument involving a security of the class of securities in respect of which disclosure is required under this item,
describe the material terms of the related financial instrument and its impact on the acquiror’s securityholdings. |
Not applicable.
3.7 | If the acquiror or any of its joint actors is a party to a securities lending arrangement involving a
security of the class of securities in respect of which disclosure is required under this item, describe the material terms of the arrangement
including the duration of the arrangement, the number or principal amount of securities involved and any right to recall the securities
or identical securities that have been transferred or lent under the arrangement. |
State if the
securities lending arrangement is subject to the exception provided in section 5.7 of NI 62-104.
Not applicable.
3.8 | If the acquiror or any of its joint actors is a party to an agreement, arrangement or understanding that
has the effect of altering, directly or indirectly, the acquiror’s economic exposure to the security of the class of securities
to which this report relates, describe the material terms of the agreement, arrangement or understanding. |
Not applicable.
Item 4 –
Consideration Paid
4.1 | State the value, in Canadian dollars, of any consideration paid or received per security and in total. |
Pursuant to the Arrangement, holders
of Common Shares received $15.50 cash and 0.5340 of a common share of the Purchaser (a “Crescent Point Share”) per
fully diluted Common Share.
Under the Arrangement, the Purchaser
issued an aggregate of 53,202,339 Crescent Point Shares and paid an aggregate of $ $1,544,262,366.83. The closing price of a Crescent
Point Share on the Toronto Stock Exchange on the last trading day prior to the completion of the Arrangement was $9.13 per Crescent Point
Share.
4.2 | In the case of a transaction or other occurrence that did not take place on a stock exchange or other
market that represents a published market for the securities, including an issuance from treasury, disclose the nature and value, in Canadian
dollars, of the consideration paid or received by the acquiror. |
See Item 4.1 above.
4.3 | If the securities were acquired or disposed of other than by purchase or sale, describe the method of
acquisition or disposition. |
Not applicable.
Item 5 –
Purpose of the Transaction
5.1 | State the purpose or purposes of the acquiror and any joint actors for the acquisition or disposition
of securities of the reporting issuer. Describe any plans or future intentions which the acquiror and any joint actors may have which
relate to or would result in any of the following: |
| a) | the acquisition of additional securities of the reporting issuer, or the disposition of securities
of the reporting issuer; |
| b) | a corporate transaction, such as a merger, reorganization or liquidation, involving the reporting issuer
or any of its subsidiaries; |
| c) | a sale or transfer of a material amount of the assets of the reporting issuer or any of its subsidiaries; |
| d) | a change in the board of directors or management of the reporting issuer, including any plans or intentions
to change the number or term of directors or to fill any existing vacancy on the board; |
| e) | a material change in the present capitalization or dividend policy of the reporting issuer; |
| f) | a material change in the reporting issuer’s business or corporate structure; |
| g) | a change in the reporting issuer’s charter, bylaws or similar instruments or another action which
might impede the acquisition of control of the reporting issuer by any person or company; |
| h) | a class of securities of the reporting issuer being delisted from, or ceasing to be authorized to be
quoted on, a marketplace; |
| i) | the issuer ceasing to be a reporting issuer in any jurisdiction of Canada; |
| j) | a solicitation of proxies from securityholders; |
| k) | an action similar to any of those enumerated above. |
The
purpose of the Arrangement was for the Purchaser to acquire all of the issued and outstanding Common Shares, such that Hammerhead would
become a wholly-owned subsidiary of the Purchaser.
As
a result of the Arrangement, each of Bryan Begley, J. Paul Charron, A. Stewart Hanlon, Robert M. Tichio, Scott Sobie, Michael Kohut, Jesal
Shah, and James AC McDermott resigned as directors of Hammerhead. The Purchaser appointed each of Craig Bryksa, Ken Lamont and Ryan Gritzfeldt,
to serve on the board of directors of Hammerhead. The Common Shares will be delisted from the Toronto Stock Exchange and the NASDAQ. Hammerhead
intends to submit an application to cease to be a reporting issuer in Alberta and Ontario under National Policy 11-206 Process for
Cease to be a Reporting Issuer Applications promptly upon the delisting of the Common Shares.
Item 6 –
Agreements, Arrangements, Commitments or Understandings With Respect to Securities of the Reporting Issuer
Describe the material terms of any agreements,
arrangements, commitments or understandings between the acquiror and a joint actor and among those persons and any person with respect
to securities of the class of securities to which this report relates, including but not limited to the transfer or the voting of any
of the securities, finder’s fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies. Include such information for any of the securities that are pledged or otherwise subject to a
contingency, the occurrence of which would give another person voting power or investment power over such securities, except that disclosure
of standard default and similar provisions contained in loan agreements need not be included.
See Item 2.2 above for information regarding the
Agreement.
Certain affiliates of Riverstone Holdings, LLC
(collectively “Riverstone”), being Hammerhead’s largest and controlling shareholder, and all of Hammerhead’s
directors and officers, holding an aggregate of approximately 82 percent of the Common Shares outstanding, have entered into voting support
agreements (the “Voting Support Agreements”) with Crescent Point to vote in favour of the Arrangement and against any
alternative or competing transaction.
Riverstone owns approximately seven percent of
the issued and outstanding Crescent Point Shares post-Arrangement. Riverstone has agreed, pursuant to a lock-up agreement (the “Lock-Up
Agreement”) entered into at the closing of the Arrangement, to hold 50 percent of the Crescent Point Shares it received pursuant
to the Arrangement for a period of at least three months following December 21, 2023 and has further agreed to hold the remaining 50 percent
of the Crescent Point Shares that it received pursuant to the Arrangement for a period of at least six months following December 21, 2023,
subject to the provisions of such Lock-Up Agreement.
The description of the terms of the Agreement,
the Voting Support Agreements and the Lock-up Agreement contained herein is a summary only and is qualified in its entirety by the terms
of the Agreement, the Voting Support Agreements and the form of Lock-up Agreement (which is appended to Riverstone’s Voting Support
Agreement), all of which are available on Hammerhead’s SEDAR+ profile at www.sedarplus.ca.
Item 7 –
Change in Material Fact
If applicable, describe any change in a material
fact set out in a previous report filed by the acquiror under the early warning requirements or Part 4 in respect of the reporting issuer’s
securities.
Not applicable.
Item 8 –
Exemption
Not applicable.
Item 9 –
Certification
I, as the acquiror,
certify, or I, as the agent filing this report on behalf of the acquiror, certify to the best of my knowledge, information and belief,
that the statements made in this report are true and complete in every respect.
Dated the 22nd day of December, 2023.
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crescent point energy corp. |
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Per: |
/s/ Mark Eade |
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Name: Mark Eade |
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Title: Senior Vice President, General Counsel and Corporate Secretary |
[Signature Page – Early Warning Report]
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