/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/
Trading Symbol - TSXV - "REG"
CALGARY, July 10 /CNW/ - Regal Energy Ltd. ("Regal") and G2 Resources
Inc. ("G2") are pleased to advise that their previously announced business
combination by way of a court approved Plan of Arrangement (the "Arrangement")
has been completed.
The Arrangement was approved on July 9, 2008 at the special meeting of G2
shareholders with 99.01% of the votes cast in favour of the Arrangement. The
Alberta Court of Queen's Bench has also granted the final order required in
connection with the Arrangement. Upon the satisfaction of other standard
closing conditions, the Arrangement was completed effective as of today, July
Pursuant to the Arrangement, Regal has acquired all of the issued and
outstanding Class A shares of G2 ("G2 Shares"), which were exchanged for
common shares of Regal ("Regal Shares") on the basis of two Regal Shares for
each three G2 Shares. Regal also acquired all of the outstanding warrants of
G2 ("G2 Warrants"), which were exchanged for warrants of Regal ("Regal
Warrants") on the basis of two Regal Warrants for each three G2 Warrants.
Following completion of the Arrangement, Regal has 150,050,209 Common
Shares outstanding. As a result of the completion of the Arrangement, G2 has
become a wholly-owned subsidiary of Regal. Regal intends to cause G2 to apply
to delist the G2 Shares from the TSX Venture Exchange and to cause G2 to cease
to be a reporting issuer under applicable Canadian securities legislation as
soon as reasonably practicable.
Information Concerning Regal
Regal is a public oil and gas company listed on the TSX Venture Exchange
and is engaged in the exploration, acquisition and development of natural gas
and oil in the provinces of Alberta, British Columbia and Saskatchewan.
Regal's main areas of focus currently are the Garrington natural gas property
located in west central Alberta, the Eight Mile natural gas property located
in northeast British Columbia and the Windfall property in Alberta.
The board of directors of Regal now consists of Curtis A. Hartzler, Jake
Pronk, Hugh Mogensen, Harry Knutson, Richard M. Wlodarczak and Al J. Kroontje.
Immediately following completion of the Arrangement, the directors of Regal
appointed the following officers: Curtis A. Hartzler as President and Chief
Executive Officer, Derek Batorowski as Chief Financial Officer, Jake Pronk as
Managing Director, and Robert T. Malcolm, Q.C. as Corporate Secretary.
The TSX Venture Exchange has not reviewed and does not accept any
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: REGAL ENERGY LTD., Curtis A. Hartzler,
President, Telephone: (403) 263-4310, Fax (403) 263-4368