CALGARY, June 4 /CNW/ - Cadence Energy Inc. ("Cadence"), formerly Kereco
Energy Ltd., announces that its offer dated April 29, 2008 (the "Offer") to
purchase all of its issued and outstanding 4.75% Convertible Unsecured
Subordinated Debentures due June 30, 2012 (the "Debentures") has expired and
no Debentures will be purchased by Cadence under the Offer. Cadence's
obligation to take up and pay for Debentures pursuant to the Offer was subject
to certain conditions which were not met, including the condition, that at
least 90% of the outstanding principal amount of the Debentures shall have
been deposited under the Offer and not withdrawn prior to the expiry time.
Approximately 41% of the $70 million principal amount of outstanding
Debentures had been deposited to the Offer.
For further information:
For further information: Cadence Energy Inc., Grant Fagerheim, President
and Chief Executive Officer, Phone: (403) 290-3401