VANCOUVER, BRITISH COLUMBIA – Canada Energy Partners Inc. (the “Company”) held its special meeting of shareholders (the “Meeting”) on July 29, 2014. The Company reports that the shareholders of the Company approved the sale of the Company’s interests in certain Montney Shale lands and wells for gross proceeds to the Company of $15,720,000, subject to adjustment, and the distribution to shareholders of up to $12,204,000 of the net proceeds of the sale, as more particularly described in the Company’s previous press releases dated April 1, 2014 and June 26, 2014, and the management information circular dated June 25, 2014 in respect of the Meeting. The Company anticipates that closing of the sale transaction will occur on or about Thursday, July 31, 2014, following which the Company will issue a press release with further details regarding the distribution, including the record date and the amount of the distribution.
On behalf of the Board of Directors of
Canada Energy Partners Inc.
For more information, please contact:-
CANADA ENERGY PARTNERS INC.
1680-200 Burrard St.
Vancouver, BC V6C 3L6
Main Phone: (604) 909-1154 / Facsimile: (604) 488-0319
Attention: John Proust, Chairman
Direct Phone: (604) 696-9020
Attention: Ben Jones, President and CEO
Direct Phone: (225) 388-9900
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements: This press release contains forward looking statements relating to expected or anticipated future events, including the completion of the above-noted sale transaction and distribution, that are forward looking in nature and, as a result, are subject to certain risks and uncertainties, such as risks relating to the fulfillment of conditions precedent to the closing of the sale transaction. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.