CALGARY, Feb. 27, 2019 /CNW/ - (TSX: EGL): Eagle Energy Inc. announces, at the request of IIROC on behalf of the Toronto Stock Exchange, that Eagle's management is unaware of any material change in Eagle's operations that would account for the recent increase in market activity.
While Eagle cannot identify any specific motive for the recent market trading, shareholders are aware, based upon previous news releases, that the limited forbearance agreement between Eagle and its lender expired on January 31, 2019 and that Eagle continues to work diligently with its lender to resolve the situation, upon which an update will be provided. Eagle also continues to work with its financial advisors to investigate, evaluate and consider possible asset sales and restructuring alternatives available to it. Eagle does not intend to comment further regarding this review process unless a specific transaction or other alternative is approved by the board of directors of Eagle, the review process is concluded or it is otherwise determined that further disclosure is appropriate or required by law.
About Eagle Energy Inc.
Eagle is an oil and gas corporation with shares listed for trading on the Toronto Stock Exchange under the symbol "EGL".
SOURCE Eagle Energy Inc.
For further information: Kelly Tomyn, Chief Financial Officer, (403) 531-1574; Wayne Wisniewski, President & Chief Executive Officer, (713) 300-3298; Eagle Energy Inc. , Suite 2710, 500-4th Avenue SW, Calgary, Alberta T2P 2V6, (403) 531-1575, (855) 531-1575 (toll free)