CALGARY, ALBERTA–(Marketwired – April 11, 2014) – Shoreline Energy Corp. (TSX:SEQ) (“Shoreline” or the “Corporation“) announces that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to Shoreline with a view to enhancing shareholder value. The Board of Directors has established a special committee comprised of all the independent members to oversee the process. Management and the Board of Directors are committed to acting in the best interests of the Corporation and its stakeholders.
Strategic and financial alternatives may include, but are not limited to, the sale of the Corporation, merger or other business combination, recapitalization, sale of all or a portion of the Corporation’s assets, or any combination thereof, as well as continued execution of its business plan, among all other alternatives. RBC Capital Markets has been retained as financial advisor to assist Shoreline and the special committee with this process.
It is the Corporation’s current intention not to disclose developments with respect to the strategic review process until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate. The Corporation cautions that there are no assurances or guarantees that the process will result in a transaction or, if a transaction is undertaken, the terms or timing of such a transaction.
About Shoreline Energy Corp.
Shoreline is a Calgary Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline offers investors a combination of value growth via lower risk development of additional oil reserves and production on its current lands. Shoreline has 9,040,522 Common Shares outstanding and convertible debentures in the aggregate principal amount of $17,000,000 outstanding. The Common Shares are currently listed on the TSX under the trading symbol “SEQ” and the debentures under the trading symbol “SEQ.DB”. Additional information regarding Shoreline is available under the Corporation’s profile at www.sedar.com or at the Corporation’s website, www.shorelineenergy.ca.
Mr. Trevor Folk
Chief Executive Officer
Shoreline Energy Corp.
Mr. Kevin Stromquist
President & Chief Operating Officer
Shoreline Energy Corp.
Suite 500, 500 – 4th Ave. SW
Calgary, Alberta T2P 2V6