CALGARY, ALBERTA–(Marketwired – July 29, 2015) –
Mobius Resources Inc. (formerly Zodiac Exploration Inc.) (“Mobius” or “the Company”) (TSX VENTURE:MBS) and Sintana Energy Inc. (“Sintana”) (TSX VENTURE:SNN) are pleased to announce that the shareholders of both companies approved the matters put before them at the special meetings held July 27, 2015 in connection with the plan of arrangement involving the amalgamation of Sintana and a wholly owned subsidiary of Mobius which will result in the combination of the businesses of Mobius and Sintana (the “Business Combination”).
Approval of the Ontario Superior Court of Justice of the plan of arrangement is required before the Business Combination can be completed. The closing of the Business Combination is anticipated to occur on or about August 5, 2015 and remains subject to the satisfaction and/or waiver of a number of conditions.
A detailed description of the Business Combination is contained in the joint information circular of Mobius and Sintana dated June 24, 2015, a copy of which is available on SEDAR at www.sedar.com.
Mobius is an Oil & Gas Exploration company with headquarters in Calgary, Alberta. Mobius’ core assets are located in the Duvernay and Nordegg light oil plays in Alberta where it holds approximately 61,000 net acres.
Sintana is engaged in petroleum and natural gas exploration and development activities in Colombia’s Magdalena Basin. Sintana’s exploration strategy is to acquire, explore, develop and produce superior quality assets with significant reserve potential.
Sintana’s private participation interests, in the 43,158 acres VMM-37 Block in the Middle Magdalena Basin are 100% of the conventional and 30% of the unconventional resource. Sintana has 15% carried participation interests in the conventional and unconventional formations of the 154,909 acres VMM-4 Block, also in the Middle Magdalena. In Colombia’s Upper Magdalena Basin, Sintana has private participation interests of 30% in the 34,194 acres Talora Block. These interests are subject to all applicable regulatory and government approvals, including those of the Agencia Nacional de Hidrocarburos (ANH).
Neither the 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.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements or information. In particular, this news release contains forward-looking statements and information concerning the closing of the Business Combination. In respect of such forward-looking statements and information, Mobius and Sintana have provided such statements and information in reliance on certain assumptions, including assumptions as to the anticipated closing of the Business Combination. Although Mobius and Sintana believe that the assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because there can be no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and uncertainties, by their very nature they involve inherent risks and uncertainties. Actual results could fifer materially from those currently anticipated due to a number of factors and risks. These factors and risks include, but are not limited to, the risk that court approval of the Business Combination will not be received and/or the conditions to closing will not be satisfied or waived. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional factors that could affect Mobius and Sintana are included in the documents filed by Mobius and Sintana, respectively, with the applicable securities regulatory authorities and may be accessed through the SEDAR website at www.sedar.com.
Mobius Resources Inc.
Sintana Energy Inc.
Chief Executive Officer
Sintana Energy Inc.