Bow Energy Ltd.
Thursday, December 07, 2017 - 3:49 PM EST

Bow Energy Signs Definitive Agreement with Petrolia Energy

Not for distribution in the United States or through United States wire services



Calgary, Alberta (FSCwire) - Further to Bow Energy Ltd.’s (“Bow or the Company”) (ONG:TSXV) press releases dated October 25, 2017 October 26, 2017  Bow is pleased to announce that the Company and Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) have signed a definitive agreement for Petrolia to acquire Bow.

 

The Agreement sets out the terms and conditions pursuant to which Petrolia will acquire through an all-stock transaction the entire issued and outstanding common shares of Bow.  Bow will distribute the common shares of Petrolia it receives to Bow shareholders who will receive shares of Petrolia on the basis of 1.15 Petrolia shares for each common share held in Bow.  Bow warrant holders will be entitled to receive, upon exchange of their securities, the equivalent number of Petrolia warrants.

 

Following the completion of the Arrangement, Bow will be a wholly owned subsidiary of Petrolia.

 

Bow will issue an information circular and hold a shareholder meeting to approve the transaction.

 

Upon completion of the transaction, Bow will be delisted from the TSXV.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow 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 expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy12072017_0.pdf

Source: Bow Energy Ltd. (TSX Venture:ONG)

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