Antrim Energy Inc. ("Antrim" or the "Company"), announces that the Company has been formally dissolved effective today. The Company filed its Articles of Dissolution, and a Certificate of Dissolution was issued on April 26, 2017, pursuant to the voluntary dissolution procedures under the Business Corporations Act (Alberta).
The Company's remaining funds will be distributed (the "Distribution") to those persons who were shareholders of the Company at the date of dissolution (the "Shareholders"). This final distribution to Shareholders will be made through the Company's transfer agent, CST Trust Company, at such time as the Company receives a final Tax Clearance Certificate from the Canada Revenue Agency and from Alberta Tax and Revenue Administration.
The estimated amount of the Distribution is $0.055 CDN per Common Share(1) (an increase from the Company's previous estimate of $0.050 CDN per Common Share) reflecting positive results from the sale of Antrim's Ireland subsidiary and settlement of the Company's obligations. It is not possible to predict when the tax clearance certificates will be obtained as their receipt is outside of the control of the Company. The Company has appointed 2015960 Alberta Ltd. as administrative agent to co-ordinate effecting the Distribution with CST Trust Company.
For further information on the background to the dissolution and winding up process, shareholders are advised to review the information circular of the Company dated July 26, 2016 available on Antrim's SEDAR profile at www.sedar.com. Representatives of the Company will forthwith be filing notice with the Alberta Securities Commission and the securities commissions in each of the other Provinces in Canada in which the Company is a reporting issuer, advising that the Company has been formally dissolved, and requesting that the Company be removed from the list of reporting issuers. As such, it is not anticipated that any further continuous disclosure will be filed on behalf of the Company.
SOURCE: Antrim Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.