CALGARY, AB–(Marketwired – November 23, 2016) – Marquee Energy Ltd. (“Marquee” or the “Company“) (TSX VENTURE: MQL) announces that the TSX Venture Exchange (the “TSXV“) has provided its conditional approval of the proposed acquisition of Marquee by Alberta Oilsands Inc. (“AOS“) through a plan of arrangement involving Marquee, its shareholders and AOS (the “Arrangement“). For more information on the Arrangement, please see the Company’s press release dated August 19, 2016 and the arrangement agreement between Marquee and AOS dated August 19, 2016, as amended on October 11, 2016, each of which are available on the Company’s SEDAR profile at www.sedar.com.
The TSXV provided its conditional approval of the Arrangement following the November 14, 2016 ruling from the Court of Appeal of Alberta, which was announced by the Company by press release dated the same date. The TSXV’s final approval of the Arrangement is conditional upon the satisfactory receipt and review by the TSXV of customary documents and confirmations related to the closing of the Arrangement.
As also previously announced on November 14, 2016, at a special meeting of Marquee shareholders held the same date Marquee shareholders overwhelmingly approved the Arrangement, with the resolution receiving the support of approximately 98% of the votes cast at the meeting. Closing of the transaction remains subject to an application for a final order of the Court of Queen’s Bench of Alberta approving the Arrangement. Marquee will provide further updates in due course.
Marquee Energy Ltd. is a Calgary based, junior energy company focused on high rate of return light oil development and production. Marquee is committed to growing the company through exploitation of existing opportunities and continued consolidation within its core area at Michichi. The Company’s shares are traded on the TSX Venture Exchange under the trading symbol “MQL” and on the OTC marketplace under the symbol “MQLXF.” A corporate presentation and 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.