Wrangler West Energy Corp. Announces Completion of Acquisition by Trident Exploration Corp.
March 05 2014 - 7:11PM
Marketwired
Wrangler West Energy Corp. Announces Completion of Acquisition by
Trident Exploration Corp.
CALGARY, ALBERTA--(Marketwired - Mar 5, 2014) - Wrangler West
Energy Corp. (TSX-VENTURE:WX) ("Wrangler" or the "Company")
announces the completion of its previously announced acquisition by
Trident Exploration Corp. ("Trident") through the amalgamation of
981443 Alberta Ltd. ("981443"), a wholly-owned subsidiary of
Trident, with Wrangler under the Business Corporations Act
(Alberta) (the "Amalgamation") to form Trident Exploration (WX)
Corp. ("Amalco").
As a result of the Amalgamation, and in accordance with the
amalgamation agreement dated January 20, 2014 among Wrangler,
Trident and 981443, each common share of Wrangler previously held
by Wrangler shareholders (other than dissenting shareholders) was
converted into one redeemable preferred share of Amalco and
redeemed by Amalco. Pursuant to the redemption, former shareholders
of Wrangler are entitled to cash proceeds of $0.2552 per redeemable
preferred share, without interest.
Full particulars of the Amalgamation and subsequent redemption
of the redeemable preferred shares of Amalco are described in the
management information circular mailed to shareholders of Wrangler
dated February 3, 2014 (the "Circular"), a copy of which is
available on the SEDAR website at www.sedar.com. The Circular and
letter of transmittal available on the SEDAR website contain
instructions for shareholders to receive the consideration payable
to them in connection with the Amalgamation and redemption.
Holders should consult their own tax advisors with respect to
the income tax consequences to them of the above noted
transactions.
The common shares of Wrangler are expected to be delisted from
and no longer traded on the TSX Venture Exchange as soon as
possible, in accordance with the rules and policies of the TSX
Venture Exchange.
Wrangler will also apply to cease to be a reporting issuer under
applicable Canadian securities laws, subject to the satisfaction of
applicable regulatory requirements.
Reader Advisories
Forward-Looking Statements: This press release contains
forward-looking statements and forward-looking information within
the meaning of applicable securities laws. The use of any of the
words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify
forward-looking statements or information. More particularly and
without limitation, this press release contains forward-looking
statements and information concerning the anticipated timing for
de-listing the common shares of Wrangler from the TSX Venture
Exchange and submission of an application for Wrangler to cease to
be a reporting issuer.
Wrangler has provided such forward-looking statements and
information in reliance on certain assumptions that it believes are
reasonable at this time, including assumptions as to the ability of
Wrangler to fulfil all conditions necessary to de-list and to cease
to be a reporting issuer. The dates reflected in the
forward-looking statements and information may change for a number
of reasons, including the need for additional time to satisfy the
conditions to de-list and cease to be a reporting issuer.
Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in
this news release concerning these times.
Although Wrangler believes that the expectations reflected
in such forward-looking statements and information are reasonable,
it can give no assurance that such expectations will prove to be
correct. Since forward-looking statements and information address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated due to a number of
factors and risks. These include, but are not limited to failure to
obtain necessary approvals or otherwise fulfill all conditions
necessary to de-list and cease to be a reporting issuer and
legislative or regulatory changes. Readers are cautioned that the
foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in
this news release are made as of the date hereof for the purpose of
providing the readers with Wrangler's expectations in respect of
the de-listing of Wrangler's common shares and Wrangler ceasing to
be a reporting issuer. The forward-looking statements and
information may not be appropriate for other purposes. Wrangler
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 so required by
applicable securities laws.
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 news release.
Wrangler West Energy Corp.Todd DillaboughPresident & Chief
Executive Officer403-770-0333Wrangler West Energy Corp.Alan
WitheyChief Financial Officer403-770-0333
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