CALGARY, Alberta – As announced on June 28, 2021, the Boards of Directors and the largest shareholders of each of Kiwetinohk Resources Corp. (“Kiwetinohk“) and Distinction Energy Corp. (“Distinction“) have agreed to a combine the businesses of Kiwetinohk and Distinction under a plan of arrangement under applicable corporate law (the “Arrangement“). On July 23, 2021, the Court of Queen’s Bench of Alberta issued an interim order (the “Interim Order“) providing for the calling and holding of a special meeting of the holders of class A common shares in the capital of Distinction on August 30, 2021 and other procedural matters.
In accordance with the Interim Order, Distinction wishes to advise its shareholders that Distinction and Kiwetinohk have agreed to amend the plan of arrangement appended to the business combination agreement dated June 28, 2021, to provide that the entity resulting from the amalgamation of Distinction and Kiwetinohk will be called “Kiwetinohk Energy Corp.”. There have been no other material changes to the Arrangement and Distinction anticipates that the combination will be completed in September 2021.