Mr. Grant Fagerheim reports
WHITECAP RESOURCES INC. ANNOUNCES SATISFACTION OF CONDITIONS TO THE COMPLETION OF THE TAKEOVER BID FOR THE COMMON SHARES OF FORGE PETROLEUM CORPORATION
Pursuant to Whitecap Resources Inc.'s offer to purchase all of the
issued and outstanding Forge Petroleum Corp. shares, 43,155,087 common shares of
Forge, representing over 99 per cent of
the issued and outstanding Forge shares, have been validly tendered. Whitecap has directed the
depositary, Olympia Trust Company, to take up and
pay for all of the Forge shares deposited under the offer on Oct. 1,
2014. Under the offer, holders of Forge shares are entitled to receive
approximately $3.5812 per Forge share in cash for each Forge share
tendered to the offer and, on or about Dec. 30, 2014, may receive
up to an additional 6.88 cents per Forge share. This additional amount is
subject to reduction in certain cases, as more fully described in the
takeover bid circular mailed to holders of Forge shares in connection
with the offer.
As the offer was accepted by holders of greater than 90 per cent of the
outstanding Forge shares, Whitecap will take steps to acquire the
remainder of the Forge shares pursuant to the compulsory acquisition
provisions contained in the Business Corporations Act (Alberta).
In addition, Whitecap's acquisition of all of the outstanding shares of
Bashaw Oil Ltd. is expected to be completed on Oct. 1, 2014.
We seek Safe Harbor.
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