CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today that, in connection with the previously announced recapitalization transaction (the “Recapitalization Transaction”) described in the Company’s management information circular dated April 18, 2019, the Company has obtained a final court order (the “Final Order”) from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement”) pursuant to which the Recapitalization Transaction is being implemented.
As previously announced, the Plan of Arrangement was approved by holders of the Company’s 8.5% senior unsecured notes due 2020, holders of the Company’s 6.75% convertible debentures due 2021 and shareholders at the affected debtholders’ and shareholders’ meetings held on May 23, 2019.
It is expected that the Recapitalization Transaction will be completed on or about May 30, 2019, subject to the satisfaction or waiver of all other conditions to the Plan of Arrangement.
About Bellatrix
Bellatrix Exploration Ltd. is a publicly traded Western Canadian based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves, with highly concentrated operations in west central Alberta, principally focused on profitable development of the Spirit River liquids rich natural gas play.