(Stock Symbol "POG.A & POG.B" - TSX Venture Exchange)
CALGARY, June 25 /CNW/ - Pegasus Oil & Gas Inc. ("Pegasus" or "the
Corporation") announces that Harvest Energy Trust ("Harvest") has mailed an
offer and take-over bid circular to the securityholders of Pegasus in
connection with Harvest's previously announced offer to purchase the Class A
Shares and Class B Shares of Pegasus. The board of directors of Pegasus have
also mailed a directors' circular recommending acceptance of the offer by the
Pegasus shareholders. The take-over bid expires at 5:00 p.m. (Calgary time) on
July 30, 2009, unless withdrawn or extended, and is being made by Harvest
Pegasus Inc., an indirect wholly-owned subsidiary of Harvest.
This news release is neither an offer to purchase securities nor a
solicitation of an offer to sell securities. Harvest has filed the take-over
bid circular and offer with Canadian securities regulatory authorities and
Pegasus has filed the directors' circular.
Shareholders of Pegasus and other investors are urged to read the offer
to purchase, take-over bid circular and the related directors' circular. These
documents, as well as any amendments and supplements to them and any other
relevant document filed or to be filed with Canadian securities regulatory
authorities, contain important information. Shareholders must carefully review
this information and follow the instructions set forth therein in order to
tender their shares to the offer.
Pegasus has retained Georgeson Shareholder Communications Canada, Inc. as
information agent for the offer. Shareholders may obtain a copy of the
take-over bid circular, directors' circular and related letters of transmittal
and notice of guaranteed delivery at www.sedar.com. In addition, any questions
or requests for assistance or further information on how to tender common
shares to the offer may be directed to and copies of the above referenced
documents may be obtained by contacting the information agent at
1-866-717-8279 or Pegasus at 1-403-521-5282.
Forward-looking statements - This document contains forward-looking
statements. More particularly, this document contains statements concerning
the proposed transaction, including timing for the completion of the proposed
The forward-looking statements are based on certain key expectations and
assumptions made by Pegasus, including expectations and assumptions concerning
timing of receipt of required regulatory approvals and third party consents
and the satisfaction of other conditions to the completion of the transaction.
Although Pegasus believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance should
not be placed on the forward-looking statements because Pegasus can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
include, but are not limited to, risks that regulatory and third party
approvals and consents are not obtained on terms satisfactory to the parties
and risks that other conditions to the completion of the offer are not
satisfied on the timelines set forth herein or at all.
The forward-looking statements contained in this press release are made
as of the date hereof and Pegasus undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required by
applicable securities laws.
Neither 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.
For further information:
For further information: Pegasus Oil & Gas Inc., Patrick Mills,
President & CEO, (403) 521-6307 or Darcy Anderson, Chief Financial Officer,
(403) 521-6302 or Pegasus Oil & Gas Inc., 101 10th St. N.W., Calgary, AB,
Canada T2N 1V4, (403) 521-5282, (403) 521-5284 (FAX), Website: