Salt Bush Energy Ltd. (the “Company”), in connection with its Notice of Intention to Make a Proposal (the “NOI Proceedings”) commenced on January 13, 2021 pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, has commenced a sale and investment solicitation procedure (“SISP”). Pursuant to a Court order issued on February 12, 2021, Deloitte Restructuring Inc. (“Deloitte”) in its capacity as proposal trustee has been authorized to carry out a “stalking horse” SISP.
The Company is a small Canadian resource company engaged in the production and development of oil and natural gas assets primarily located in the Wizard Lake Oilfield in the province of Alberta, approximately 50 kilometers southwest of Edmonton, Alberta.
Details concerning the assets, sales process and bidding procedures can be obtained by contacting Deloitte via email at naomcgregor@deloitte.ca or via telephone at (403) 503-1423. The deadline for submission of offers is April 16, 2021.
Additional details in respect of the proposed timeline for the marketing process and a copy of the Sale and Investor Solicitation Process procedures, as well as additional information about the NOI Proceedings, including copies of all Court orders and Proposal Trustee reports, are available on the Proposal Trustee’s website at www.insolvencies.deloitte.ca/en-ca/Pages/Salt-Bush-Energy-Ltd.