/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
CALGARY, Oct. 23, 2018 /CNW/ - Marquee Energy Ltd.
("Marquee" or the "Company") (TSXV: "MQX") is pleased to announce
that it has completed the previously announced disposition of its
non-core asset for total cash consideration of $6.575 million, prior to closing adjustments (the
"Transaction"). The proceeds from the sale of the assets will be
used to reduce the Company's current debt and improve financial
flexibility.
GMP FirstEnergy acted as a financial advisor to Marquee with
respect to the Transaction.
Marquee confirms that the management information circular (the
"Circular") and form of proxy with respect to the proposed plan of
arrangement involving Marquee and Prairie Provident Resources Inc.
have been mailed to Marquee shareholders and optionholders of
record as of October 9, 2018. Marquee
confirms that the Circular and the form of proxy can be accessed
and viewed on the Company's profile on Sedar (www.sedar.com) or at
the AST Trust Company (Canada)
website (www.meetingdocuments.com/ASTca/mqx).
The Company's Annual and Special Meeting of Shareholders and
Special Meeting of Optionholders is scheduled for 10:00 AM on
Monday November 19, 2018 at DLA
Piper's Calgary office, located at
1000, 250 2nd St SW.
ABOUT MARQUEE
Marquee Energy Ltd. is a Calgary based, junior energy company focused
on high rate of return light oil development and production. The
Company's shares are traded on the TSX Venture Exchange under the
trading symbol "MQX". Additional information about Marquee
may be found on its website www.marquee-energy.com and in its
continuous disclosure documents filed with Canadian securities
regulators on the System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com.
FORWARD-LOOKING STATEMENTS OR INFORMATION
Certain statements included or incorporated by reference in this
news release may constitute forward-looking statements under
applicable securities legislation. Such forward-looking statements
or information typically contain statements with words such as
"anticipate", "believe", "expect", "plan", "intend", "estimate",
"propose", or similar words suggesting future outcomes or
statements regarding an outlook. Forward-looking statements or
information in this news release may include, but are not limited
to: the anticipated use of proceeds from the Transaction and
benefits therefrom.
Such forward-looking statements or information are based on a
number of assumptions all or any of which may prove to be
incorrect. In addition to any other assumptions identified in this
document, assumptions have been made regarding, among other things,
the expected benefits and results of the Transaction.
Forward-looking information is 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 information. Material risk factors affecting the
Company and its business are contained in Marquee's Annual
Information Form, which is available under Marquee's issuer profile
on SEDAR at www.sedar.com.
The forward-looking information contained in this press release
is made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, unless required by applicable securities laws. The
forward -looking information contained in this press release is
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Marquee Energy Ltd.