CALGARY, ALBERTA–(Marketwired – November 14, 2016) – Marquee Energy Ltd. (“Marquee” or the “Company“) (TSX VENTURE: MQL) announces that, at the special meeting (the “Special Meeting“) of Marquee’s shareholders (“Marquee Shareholders“) held today, the Marquee Shareholders passed a special resolution (the “Arrangement Resolution“) approving the plan of arrangement involving Marquee, Alberta Oilsands Inc. (TSX VENTURE: AOS) (“AOS“) and Marquee shareholders (the “Arrangement“) under Section 193 of the Business Corporations Act (Alberta). The Arrangement Resolution received support from approximately 98% of the votes cast at the Special Meeting.
On November 9, 2016, the Court of Appeal of Alberta heard the appeal (the “Appeal“) by Marquee of the order (the “Order“) of the Court of Queen’s Bench of Alberta (the “Court“), as previously disclosed in Marquee’s news releases of September 21, 2016 and October 11, 2016. The Order provides that the application of Marquee to the Court for a final order in connection with the Arrangement shall not be brought to the Court for hearing until AOS has held a shareholders meeting to consider and vote upon the Arrangement on the terms provided in the Order, including the approval of not less than two-thirds of the votes cast by AOS shareholders and the granting of dissent rights to AOS shareholders in connection therewith.
Marquee will provide further updates with respect to the Appeal and the Arrangement following receipt of the decision of the Court of Appeal of Alberta.
Marquee Energy Ltd. is a Calgary based, junior energy company focused on high rate of return light oil development and production. Marquee is committed to growing the company through exploitation of existing opportunities and continued consolidation within its core area at Michichi. The Company’s shares are traded on the TSX Venture Exchange under the trading symbol “MQL” and on the OTC marketplace under the symbol “MQLXF”. A corporate presentation and additional information about Marquee may be found on its website www.marquee-energy.com and in its continuous disclosure documents filed with Canadian securities regulators on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.