CALGARY, ALBERTA–(Marketwired – Jan. 19, 2015) – Coral Hill Energy Ltd. (“Coral Hill“) announces that Aspenleaf Energy Limited (“Aspenleaf“) has provided written notice to Coral Hill asserting that Aspenleaf believes Coral Hill will be unable to satisfy a certain condition to closing of the arrangement (the “Arrangement“) between Coral Hill and Aspenleaf and that Coral Hill is in default of a certain covenant under the arrangement agreement between Coral Hill and Aspenleaf. Coral Hill has provided a written response to Aspenleaf strongly disputing such assertions and noting that Coral Hill remains committed to closing the Arrangement with Aspenleaf. Coral Hill intends to convene and hold its scheduled special meeting of securityholders at 9:00 am (Calgary time) on January 19, 2015 to consider the Arrangement with Aspenleaf.
Coral Hill is a private Alberta based corporation actively engaged in the exploration, development and production of crude oil and natural gas in Alberta.