CALGARY, Sept. 27, 2013 /CNW/ - Montana Exploration Corp. ("Montana") (TSXV:MTZ) and Waldron Energy Corporation ("Waldron") (TSX:WDN) are pleased to announce that the requisite approvals of the
securityholders of Waldron, and the shareholders of Montana, necessary
for completion of their previously announced plan of arrangement (the "Arrangement") were obtained at the special meeting of holders of securities of
Waldron and the annual and special meeting of holders of common shares
of Montana (the "Montana Meeting"), both held September 27, 2013. The Court of Queen's Bench of Alberta
has also granted final approval for the Arrangement.
Montana and Waldron expect to satisfy the remainder of the conditions
precedent to closing of the Arrangement shortly. A further press
release announcing the closing date will be issued in due course.
Under the arrangement agreement dated July 31, 2013 between Montana and
Waldron, the parties have until November 1, 2013 to satisfy the
conditions to closing the Arrangement.
About Montana Exploration Corp.
Montana is a Canadian junior oil and gas exploration and production
company focusing on the Shaunavon oil opportunities underlying its
extensive land holdings in the state of Montana. In the United States
the company operates through its wholly owned subsidiary, Montana Land
& Exploration, Inc. Montana's common shares are listed on the TSX
Venture Exchange under the trading symbol "MTZ". Additional
information regarding Montana is available under Montana's profile at www.sedar.com or at Montana's website, www.montanaexplorationcorp.com.
About Waldron Energy Corporation
Waldron is a Calgary, Alberta based corporation engaged in the
exploration, development and production of petroleum and natural gas.
Waldron's common shares are currently listed on the TSX under the
trading symbol "WDN". Additional information regarding Waldron is
available under Waldron's profile at www.sedar.com or at Waldron's website, www.waldronenergy.ca.
Forward Looking Statements
This press release contains statements that constitute "forward-looking
information" or "forward-looking" statements" (collectively
"forward-looking information") within the meaning of applicable
securities legislation. Forward-looking information is often, but not
always, identified by the use of words such as "anticipate", believe",
"expect", "plan", "intend", "forecast", "target", "project",
"guidance", "may", "will", "should" "could", "estimate", "predict" or
similar words suggesting future outcomes or language suggesting an
outlook. This forward-looking information includes, among others,
statements regarding: the Arrangement; satisfaction of the conditions
to completion of the Arrangement; closing of the Arrangement; and other
expectations, beliefs, plans, goals, objectives, assumptions,
information and statements about possible future events, conditions,
results of operations or performance.
Various assumptions were used in drawing the conclusions or making the
forecasts and projections contained in the forward-looking information
contained in this press release. In respect of the forward-looking
statements and information concerning the anticipated completion of the
Arrangement and the anticipated timing thereof, Montana and Waldron
have provided such in reliance on certain assumptions that they believe
are reasonable at this time, including the necessary regulatory, stock
exchange and other third party approvals; and the ability of the
parties to satisfy, in a timely manner, the other conditions to the
closing of the Arrangement.
Forward-looking information is based on current expectations, estimates
and projections that involve a number of risks, which could cause
actual results to vary and in some instances to differ materially from
those anticipated by Montana and described in the forward-looking
information contained in this press release. Undue reliance should not
be placed on forward-looking information. The material risk factors
include, but are not limited to: failure of Montana or Waldron to
obtain necessary regulatory, stock exchange and other third party
approvals, the ability of the parties to satisfy, in a timely manner,
the other conditions to the closing of the Arrangement; the possibility
that government policies or laws may change or governmental approvals
may be delayed or withheld; and Montana's ability to implement its
business strategy. Readers are cautioned that the foregoing list of
risk factors is not exhaustive. Failure to obtain the necessary
approvals, or the failure of Montana or Waldron to otherwise satisfy
the conditions to the Arrangement, may result in the Arrangement not
being completed on the proposed terms, or at all.
The forward-looking statements and information contained in this press
release are also affected by the risk factors, forward-looking
statements and assumptions and uncertainties described in Montana's and
Waldron's reports on file with applicable securities regulatory
authorities and which may be accessed on each party's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to Montana,
Waldron and the Arrangement, investors and others should carefully
consider the foregoing factors and other uncertainties and potential
events. Furthermore, the forward-looking statements contained in this
press release are made as of the date of this press release and Montana
and Waldron do 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
required by applicable law. The forward-looking statements contained
in this joint press release are expressly qualified by this cautionary
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.
SOURCE: Montana Exploration Corp.
For further information:
For further information on Montana and the Arrangement, please contact:
Montana Exploration Corp.
Charles Selby, Chairman & CEO
Telephone: (403) 265 9091
For further information on Waldron, please contact:
Waldron Energy Corporation
Ernie Sapieha, President & CEO
Telephone: (403) 532 6700