CALGARY, Alberta – Toscana Energy Income Corporation (Toscana) (TSX: TEI) is pleased to announce that it has scheduled its annual and special meeting for October 27, 2020 at 9:00 a.m. (Calgary time) (the Meeting). As previously announced by Toscana, the Meeting is being called to consider, among other annual matters of business, the previously announced transaction (the Arrangement) with i3 Energy plc (i3 Energy), an AIM-listed oil and gas company, pursuant to which i3 Energy will acquire all of the issued and outstanding common shares in the capital of Toscana pursuant to the terms of an arrangement agreement between Toscana and i3 Energy dated June 23, 2020 (the Arrangement Agreement). In furtherance of the foregoing, Toscana and i3 Energy entered into an amending agreement to the Arrangement Agreement dated September 9, 2020 to extend the date by which Toscana must call the Meeting to consider the Arrangement and to extend the outside date by which the Arrangement must close by.
Further details regarding the Arrangement will be contained in a management information circular (the Information Circular) to be prepared in connection with the Meeting and expected to be mailed to shareholders of Toscana in early October, 2020. The Information Circular will be available electronically on Toscana’s SEDAR profile at www.sedar.com shortly following the mailing of the Information Circular. Subject to receipt of all required approvals including approval by the shareholders of Toscana, regulatory approvals and approval by the Court of Queen’s Bench of Alberta, the Arrangement is expected to close on or about October 30, 2020.
Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets.