Calgary, Alberta – Eagle Energy Inc. (“Eagle” or the “Corporation“) announces that it has obtained from the Alberta Securities Commission and the Ontario Securities Commission, on behalf of each of the provinces of Canada, orders granting its voluntary applications to cease to be a reporting issuer and for a full revocation of a failure-to-file cease trade order issued against Eagle on May 6, 2020 (the “FFCTO“). Effective immediately, Eagle confirms that it has ceased to be a reporting issuer in Canada and that a full revocation of the FFCTO has taken effect.
The orders were granted following the previously announced completion on June 30, 2020 of transactions under a court approved Bankruptcy and Insolvency Act (Canada) proposal, which provided for, among other things, the compromise and settlement of claims of unsecured creditors of the Corporation and a reorganization of its share capital under the Business Corporations Act (Alberta) (the “Reorganization“). As a result of the Reorganization, EEI HoldCo, LLC, a wholly owned indirect subsidiary of certain funds and accounts managed by White Oak Global Advisors, LLC, became the sole shareholder of Eagle. Further information regarding the completion of the Reorganization is available in the news release issued by Eagle on June 30, 2020.
For further information, please contact:
Chief Financial Officer
Eagle Energy Inc.
Suite 315, 1615 – 10th Avenue S.W.
Calgary, Alberta T3C 0J729dk2902l