CALGARY, AB–(Marketwired – November 29, 2016) – Marquee Energy Ltd. (“Marquee“) (TSX VENTURE: MQL) and Alberta Oilsands Inc. (“AOS“) (TSX VENTURE: AOS) are pleased to announce that the Court of Queen’s Bench of Alberta has issued a final order approving the proposed acquisition of Marquee by AOS through a plan of arrangement involving Marquee, its shareholders and AOS (the “Arrangement“).
Completion of the Arrangement remains subject to the satisfaction or waiver of certain additional customary closing conditions contained in the arrangement agreement between Marquee and AOS dated August 19, 2016, as amended October 11, 2016. Subject to the satisfaction of waiver of such closing conditions, it is anticipated that the Arrangement will be completed as soon as reasonably practicable.
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. Marquee’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.
AOS holds bitumen leases in the Athabasca oil sands region of northeast Alberta. The company’s head office is located in Calgary, Alberta, Canada and its common shares are traded on the TSX Venture Exchange under the trading symbol “AOS”.