/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
CALGARY, Nov. 20, 2018 /CNW/ - Marquee Energy Ltd.
("Marquee" or the "Company") (TSXV: "MQX") are pleased to announce
that, at the special meeting of shareholders of Marquee held
yesterday (the "Meeting"), the shareholders and optionholders of
Marquee overwhelmingly voted in favour of a special resolution to
approve the proposed plan of arrangement with Prairie Provident
Resources Inc. (the "Arrangement") pursuant to which, among other
things, Prairie Provident Resources Inc. will acquire all of the
issued and outstanding shares of Marquee. Marquee
shareholders will receive, for each Marquee share held, 0.0886
common share of Prairie Provident Resources Inc.
The Arrangement required approval by: (i) 66⅔% of the votes cast
by shareholders present in person or represented by proxy at the
Meeting; and (ii) 66⅔% of the votes cast by optionholders present
in person or represented by proxy at the Meeting.
A total of 188,960,220 Marquee shares, representing
approximately 43% of the outstanding Marquee shares, were
represented in person or by proxy at the Meeting. Of the votes cast
with respect to the Arrangement, an aggregate of 164,904,430
Marquee shares were voted in favour of the Arrangement,
representing approximately 98% of the votes cast on the
resolution. In addition, an aggregate of 20,270,000 of the
outstanding Marquee options were represented in person or by proxy
at the Meeting, with 100% voted in favour of the Arrangement.
Marquee also received today a final order of the Court of
Queen's Bench of Alberta approving
the Arrangement. Completion of the Arrangement remains subject to
other customary closing conditions. Assuming that the
conditions to closing are satisfied or waived, it is expected that
the Arrangement will be completed on or around November 21, 2018. Following completion of the
Arrangement, Marquee will be de-listed from the TSX Venture
Exchange on November 21, 2018, and
applications will be made for Marquee to cease to be a reporting
issuer.
Shareholders who are registered shareholders must send their
certificates to the depositary, Alliance Trust Company, 1010, 407 –
2nd Street SW, Calgary, Alberta
T2P 2Y3. Attention: Securities Department.
Shareholders who hold their shares through a broker should not need
to undertake any action as your broker will take steps to receive
the consideration shares.
ABOUT MARQUEE
Marquee is a Calgary-based,
junior energy company focused on light oil development and
production in the Michichi area of eastern Alberta. Marquee's shares trade on the TSX
Venture Exchange under the trading symbol "MQX". Additional
information about Marquee may be found on its website
www.marquee-energy.com and in its continuous disclosure documents
filed with Canadian securities regulators on SEDAR at
www.sedar.com.
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 release.
FORWARD‐LOOKING STATEMENTS AND CAUTIONARY STATEMENTS
This press release contains forward‐looking statements
regarding the anticipated completion of the Arrangement, which
reflect expectations and assumptions of Marquee regarding the
likelihood of satisfying all outstanding conditions precedent to
completion.
Although Marquee believes that the expectations and
assumptions on which the forward‐looking statements are based are
reasonable, undue reliance should not be placed on the
forward‐looking statements because Marquee can give no assurance
that they will prove to be correct. Since forward‐looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks.
Forward‐looking information is based on estimates and
opinions of management of Marquee at the time the information is
presented. Marquee may, as considered necessary in the
circumstances, update or revise such forward‐looking information,
whether as a result of new information, future events or otherwise,
but Marquee undertakes no obligation to update or revise any
forward‐looking information, except as required by applicable
securities laws.
SOURCE Marquee Energy Ltd.