Torque Amalgamates With Dundee Energy Subsidiary
03 August 2011 - 3:58AM
Marketwired
Torque Energy Inc. (TSX VENTURE: TQE) (Torque) and Dundee Energy
Limited (TSX: DEN) (Dundee Energy) advise that the amalgamation of
Torque with a subsidiary of Dundee Energy (formerly called Eurogas
Corporation) became effective today and Torque has become a
wholly-owned subsidiary of Dundee Energy. It is expected that
Torque's shares will be delisted from the TSX Venture Exchange on
Thursday, August 4, 2011.
Shareholders of Torque were able to elect before 4:30 p.m.
(Toronto time) on July 27, 2011 to receive on the amalgamation
either C$0.50 for each Torque share held or one common share in
Dundee Energy for every two Torque shares held. If no election was
made, shareholders will receive C$0.50 per share. Shareholders will
be sent the cash or share consideration which they elected to
receive for their Torque shares later this week.
About Torque Energy Inc.
Torque Energy Inc. is listed on the TSX Venture Exchange under
the symbol "TQE" and is engaged in oil and gas operations in
Ontario and Alberta. For more information, visit
www.torqueenergy.com.
About Dundee Energy Limited
Dundee Energy Limited is listed on the Toronto Stock Exchange
under the symbol "DEN" and is engaged in oil and natural gas
operations in Ontario and indirectly in the development of a major
underground storage facility off the east coast of Spain. For more
information, visit www.dundee-energy.com.
Neither the TSX Venture Exchange, Toronto Stock Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Contacts: Torque Energy Inc. Brian E. Bayley President & CEO
604.689.1428 604.681.4692 (FAX) Torque Energy Inc. David C. Nelms
Chief Financial Officer 519.433.7710 519.433.7588 (FAX)
www.torqueenergy.com Dundee Energy Limited Jaffar Khan President
& CEO (403) 264-4985 (403) 262-8299 (FAX)
www.dundee-energy.com
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