CALGARY, ALBERTA–(Marketwired – April 13, 2016) – BOULDER ENERGY LTD. (“Boulder” or the “Company“) (TSX:BXO)(OTCQX:BLLDF) announced today the completion of a going private transaction by way of a statutory plan of arrangement (the “Arrangement“) involving Boulder and 1951556 Alberta Ltd. (the “Purchaser“) a portfolio company of ARC Energy Fund 8 (a private equity fund raised and advised by ARC Financial Corp.). Pursuant to the Arrangement, shareholders of Boulder received $2.59 in cash for each Boulder common share held (other than certain Boulder common shares held by certain officers of the Company which were exchanged for 2.59 common shares of the Purchaser per share).
Immediately after giving effect to the acquisition of the Boulder common shares under the Arrangement, the Purchaser owned and controlled 46,468,092 Boulder common shares, being 100% of the issued and outstanding Boulder common shares. As part of the Arrangement, Boulder and the Purchaser were amalgamated and continued as one corporation under the name “Boulder Energy Ltd.”.
It is expected that Boulder’s common shares will cease trading and will be delisted from the TSX and the OTCQX in approximately two to four business days in accordance with the rules of the TSX and OTCQX. Concurrent with the delisting of its common shares, Boulder will apply to all applicable Canadian securities regulatory authorities in order to cease to be a reporting issuer.
Registered shareholders of Boulder who have not already done so should submit a completed letter of transmittal to CST Trust Company, the depositary appointed by the Purchaser in relation to the Arrangement. Shareholders that hold share certificates must include their certificates with their letter of transmittal. Letter of transmittal were previously sent to shareholders of Boulder and additional copies may be obtained by contacting CST Trust Company by telephone at 1-800-387-0825 or by email at firstname.lastname@example.org.