CALGARY, March 2, 2015 /CNW/ - (TSX-V: PFC) –
PetroFrontier Corp. ("PetroFrontier" or the "Corporation")
announces that it has retained GMP Securities L.P. ("GMP") as the
Corporation's exclusive financial advisor. PetroFrontier currently
has in excess of $10 million in cash
and no debt and has been identifying and evaluating a wide range of
options for the Corporation. A resulting transaction could include
a merger or other business combination of PetroFrontier with
another entity, a recapitalization, a purchase of assets, a joint
venture, a farm-in or the sale of PetroFrontier as a whole.
PetroFrontier cautions that there are no guarantees that this
focused effort and the engagement of a financial advisor will
result in a transaction or, if a transaction is undertaken, as to
its terms or timing. The Corporation has not set a definitive
schedule to complete its evaluation and does not intend to disclose
developments with respect to this process until either a definitive
agreement has been reached or the process has been terminated,
unless otherwise determined or required by law.
PetroFrontier's head office is in Calgary, Alberta and its common shares are
listed for trading on the TSX Venture Exchange under the symbol
"PFC".
Forward-Looking Statements
This press release may contain forward-looking information
that involves substantial known and unknown risks and
uncertainties, most of which are beyond the control of
PetroFrontier, including, without limitation, statements pertaining
to the potential timing and results of the review process and to
management's future plans and operations. All statements
included herein, other than statements of historical fact, are
forward-looking information and such information involves various
risks and uncertainties. There can be no assurance that such
information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information. Any forward-looking statements are made as
of the date of this release and, other than as required by
applicable securities laws, PetroFrontier does not assume any
obligation to update or revise them to reflect new events or
circumstances.
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.
SOURCE PetroFrontier Corp.