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A service for energy industry professionals · Friday, May 25, 2018 · 448,704,512 Articles · 3+ Million Readers

Spartan Energy Corp. Announces Receipt of Interim Court Order, Special Meeting of Shareholders and Mailing of Information Circular

CALGARY, Alberta, April 26, 2018 (GLOBE NEWSWIRE) -- Spartan Energy Corp. (“Spartan” or the “Company”) (TSX:SPE) is pleased to announce that it has obtained an interim order from the Court of Queen's Bench of Alberta (the "Interim Order") in connection with the proposed sale of the Company to Vermilion Energy Inc. (“Vermilion”) by way of plan of arrangement (the "Arrangement") announced on April 16, 2018.

The Interim Order, among other things, authorizes Spartan to call and hold a special meeting (the "Special Meeting") of the holders of common shares of Spartan (collectively, the "Shareholders") to approve the previously announced Arrangement under the Business Corporations Act (Alberta). In accordance with the Interim Order, the Special Meeting will be held on May 25, 2018 at the offices of McCarthy Tétrault LLP, Suite 4000, 421 7th Avenue S.W., Calgary, Alberta, T2P 4K9, at 9:00 a.m. (Calgary time).

The record date for determining the Shareholders entitled to receive notice and to vote at the Special Meeting has been fixed to be the close of business on April 25, 2018 as is more particularly described in the management information circular (the “Circular”). All Shareholders entitled to vote are encouraged to vote in person or by proxy at the Special Meeting.

In connection with the Special Meeting, Spartan has mailed the Circular, together with the letter of transmittal and related proxy materials to Shareholders. The Circular, letter of transmittal and related proxy materials will also be available on SEDAR under Spartan's profile at www.sedar.com.

ABOUT SPARTAN

Spartan Energy Corp. is a company actively engaged in the business of oil and gas exploration, development, acquisition and production in Alberta and Saskatchewan. The common shares of Spartan are listed and posted for trading on the TSX under the symbol “SPE”.  Spartan is headquartered in Calgary, Alberta.

FURTHER INFORMATION

Richard (Rick) McHardy
President and Chief Executive Officer
OR

      Tim Sweeney
Manager, Business Development
       
Spartan Energy Corp.
3200, 500 Centre Street SE
Calgary, Alberta  T2P 1A6
     
       
Fax:  (403) 410-3378
Email: info@spartanenergy.ca
     
       

Forward Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. More particularly and without limitation, this press release contains forward-looking statements regarding the proposed Arrangement and the timing of the Special Meeting. All statements, other than statements of historical facts, that address activities that Spartan assumes, anticipates, plans, expects, believes, projects, aims, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. All of the forward-looking statements in this release are qualified by the assumptions that are stated or inherent in such forward-looking statements. Although Spartan believes these assumptions are reasonable, they are not exhaustive of the factors that may affect any of the forward-looking statements and the reader should not place undue reliance on these assumptions and such forward-looking statements. No assurance can be given that these factors, expectations and assumptions will prove to be correct. Completion of the Arrangement is subject to a number of conditions which are typical for transactions of this nature, including, without limitation, the failure to satisfy any of these conditions, the emergence of a superior proposal or the failure to obtain approval of Spartan’s Shareholders which may result in the termination of the arrangement agreement.

The forward-looking statements provided in this press release are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. Spartan cautions that its intention to proceed with the Arrangement and other forward-looking statements relating to Spartan are subject to all of the risks and uncertainties normally incident to such endeavors. These risks relating to Spartan include, but are not limited to, that the Arrangement is not completed on the announced terms or at all. Furthermore, the forward-looking statements contained herein are made as at the date hereof and Spartan does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the completion of the Arrangement as well as Spartan’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or the Company’s website (www.spartanenergy.ca).

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