CALGARY, AB–(Marketwired – July 10, 2015) – Kicking Horse Energy Inc. (“Kicking Horse” or the “Company”) (
Under the terms of the Settlement Agreement, the parties have agreed, among other things, for the full and final release and dismissal of all claims and allegations made in the Class Action, by the establishment of a $5.5 million settlement fund. If the settlement is approved by the Court, Kicking Horse has agreed to fund a total of $1.75 million to the settlement fund. The Settlement Agreement provides for no admission of liability on the part of the defendants. An application by the parties to the Court to approve the Settlement Agreement is scheduled for October 9, 2015.
Kicking Horse and the other defendants have denied and continue to deny any and all liability with respect to any of the claims made in the Class Action. The settlement is being made to avoid the burden and expense of further litigation and to allow Kicking Horse to conduct its business without the continuing encumbrance of the lawsuit.
About Kicking Horse Energy Inc.
Kicking Horse Energy Inc. is a public oil and gas company which is focused on the development of Alberta’s liquids-rich Montney Formation tight gas play. For more information, please see the Company’s website: www.kickinghorseenergy.com
Neither 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 release.
For more information please contact:
Vice President Finance and Chief Financial Officer
Kicking Horse Energy Inc.
Phone: (403) 234-8663
Fax: (403) 695-3915