ALANGE ENERGY ANNOUNCES THE ADOPTION OF A SHAREHOLDER RIGHTS PLAN
16 Mai 2011 - 4:07PM
PR Newswire (Canada)
TORONTO, May 16 /CNW/ -- TORONTO, May 16 /CNW/ - Alange Energy
Corp. (TSXV: ALE) announced today that its board of directors has
adopted a shareholder rights plan, effective May 13, 2011.
The objective of the rights plan is to ensure, to the extent
possible, that all shareholders of Alange Energy are treated
equally and fairly in connection with any initiative to acquire
control of the Company. The rights plan is not intended to and will
not prevent a take-over of the Company. The purpose of the rights
plan is to encourage a potential bidder to make a "Permitted Bid",
having terms and conditions designed to meet the objectives of the
rights plan, or to negotiate the terms of an offer with the board
of directors of Alange Energy. A Permitted Bid is a take-over bid
that is made to all holders of voting shares of the Company (other
than the bidder) for all of the voting shares held by them, by way
of a take-over bid circular prepared in compliance with applicable
securities laws, that remains open for acceptance by shareholders
of the Company for 60 days (or such shorter period of time as may
be approved by the board of directors of the Company from time to
time), and that satisfies certain other conditions. The rights plan
must be confirmed by shareholders within six months of its
effective date. The listing of the rights is subject to
regulatory acceptance by the TSX Venture Exchange. Alange Energy is
not aware of any specific take-over bid for the Company that has
been made or is contemplated. A complete copy of the Rights Plan is
available upon request. Shareholders wishing to receive a copy of
the Rights Plan should make their request by telephone at (416)
360-7915, by email at pvolk@alangecorp.com or by mail to Alange
Energy Corp., 333 Bay Street, Suite 1100, Toronto, Ontario
M5H 2R2, Attention: Mr. Peter Volk. A copy of the Rights Plan
is also filed on SEDAR at www.sedar.com. About Alange Energy Corp.
Alange Energy is a Canadian-based oil and gas exploration and
production company, with working interests in 19 properties in five
basins in Colombia. Further information can be obtained by visiting
our website at www.alangeenergy.com. This news release contains
certain "forward-looking statements" and "forward-looking
information" under applicable Canadian securities laws concerning
the business, operations and financial performance and condition of
Alange Energy. Forward-looking statements and forward-looking
information include, but are not limited to, statements with
respect to estimated production and reserve life of the various oil
and gas projects of Alange Energy; the estimation of oil and gas
reserves; the realization of oil and gas reserve estimates; the
timing and amount of estimated future production; costs of
production; success of exploration activities; and currency
exchange rate fluctuations. Except for statements of historical
fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements
are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are based on a number of assumptions and subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. Many of these
assumptions are based on factors and events that are not within the
control of Alange Energy and there is no assurance they will prove
to be correct. Factors that could cause actual results to vary
materially from results anticipated by such forward-looking
statements include changes in market conditions, risks relating to
international operations, fluctuating oil and gas prices and
currency exchange rates, changes in project parameters, the
possibility of project cost overruns or unanticipated costs and
expenses, labour disputes and other risks of the oil and gas
industry, failure of plant, equipment or processes to operate as
anticipated. Although Alange Energy has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Alange Energy undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements. Statements concerning oil and gas reserve estimates may
also be deemed to constitute forward-looking statements to the
extent they involve estimates of the oil and gas that will be
encountered if the property is developed. Boe may be misleading,
particularly if used in isolation. A boe conversion ratio of 6
mcf:1 bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a
value equivalency at the wellhead. Estimated values of future net
revenue disclosed do not represent fair market value. Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/May2011/16/c4810.html p
Ms. Miranda Smithbr/ Investor Relationsbr/ 647-428-7422br/ a
href="http://miranda@thecapitallab.com"miran/aa
href="mailto:miranda@thecapitallab.com"da@thecapitallab.com/a /p
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