MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Monday May 29 2017
Cequence Energy Reports Voting Results of Annual Meeting of Shareholders
Cequence Energy Ltd. (the "Company" or "Cequence") (TSX:CQE) held its annual meeting of shareholders on May 29, 2017 in Calgary. A total of 86,157,304 common shares ("Common Shares") of the Company, representing approximately 35.09% of Common Shares, were represented in person or by proxy at the meeting.
During the regular business proceedings at the meeting, shareholders approved a resolution appointing Deloitte LLP as the Company's auditors with approximately 99% approval of the Common Shares represented in person or by proxy at the meeting.
In addition, the seven director nominees proposed by management were elected by ballot at the meeting. Proxies and in person votes were received as follows:
Please visit Cequence's website at http://www.cequence-energy.com/index.php?page=presentations to access the URL for the presentation slides from the annual meeting of the shareholders.
Cequence is a publicly-traded Canadian energy company involved in the acquisition, exploitation, exploration, development and production of natural gas and crude oil in western Canada. Further information about Cequence may be found in its continuous disclosure documents filed with Canadian securities regulators at www.sedar.com.
SOURCE Cequence Energy Ltd.
Jura Announces Release of Interim Filings
Jura Energy Corporation (TSX VENTURE:JEC) ("Jura") today announced the filing on SEDAR of its condensed consolidated interim financial statements as at, and for the three months ended March 31, 2017 and 2016, and its Management's Discussion and Analysis for the first quarter of fiscal year 2017.
About Jura Energy Corporation
Jura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in Pakistan. Jura is based in Calgary, Alberta, and listed on the TSX-V trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited.
SOURCE Jura Energy Corporation
Raise Production Inc. Announces Granting of Stock Options
Raise Production Inc. (TSX VENTURE:RPC) ("Raise" or the "Company") announces that it has granted 1,150,000 stock options on May 29, 2017, to purchase common shares of the Company at an exercise price of $0.205 per share. The stock options have been granted to officers, directors and employees of the Company under the Company's stock option plan and will have a five year term. Each option granted will be subject to a four month hold period and certain vesting provisions.
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary products to enhance and increase ultimate production in both conventional and unconventional horizontal oil and gas wells.
SOURCE Raise Production Inc.
Softrock Announces Proposed Convertible Debenture Financing
Softrock Minerals Ltd ("Softrock" or the "Company") today announced that it intends to sell by way of private placement up to $100,000 aggregate principal amount of 5.0% convertible unsecured subordinated debentures (the Debentures") (the "Offering"). The proceeds of the Offering will be used to expand lithium and oil and gas holdings and for general corporate purposes. Over 55% of the offering will be taken up by the present Softrock directors.
It is anticipated that closing of the Offering will occur on or about June 15, 2017. Completion of the Offering is subject to certain conditions including the receipt of all necessary regulatory approvals, including listing on the TSX Venture Exchange (the "TSX") of the common shares which may be issued on conversion of the Debentures. The Debentures and the common shares issuable upon conversion thereof will be subject to a hold period of four months and a day from the closing date.
The Debenture Terms
The Debentures will be due 12 months from the date of issuance (the "Maturity Date") and bear interest at 5.0% per annum payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing June 30, 2017.
The Debentures will be unsecured and payment of the principal and interest on the Debentures will be subordinated and postponed in right or payment to all senior indebtedness of Softrock.
The Debentures will be convertible into fully paid and non-assessable common shares of the Company at the option of the holder at any time prior to the close of business on the Maturity Date at a conversion price of $0.05 (the "Conversion Price") per common share. Holders converting their Debentures will receive accrued and unpaid interest thereon in cash for the period from the date of the last interest payment to the date of conversion. Assuming the Offering is fully subscribed, an aggregate of 2 million common shares will be issuable upon conversion of the Debentures, representing approximately 9% of the currently issued and outstanding common shares of the Company.
The Debentures will not be redeemable other than in certain circumstances in connection with a change of control.
On maturity, Softrock may, at its option, subject to regulatory approval, elect to satisfy its obligations to repay the principal of the Debentures then maturing by issuing and delivering that number of freely tradable common shares of Softrock obtained by dividing such principal by 95% of the weighted average trading price of the common shares on the TSX Venture Exchange (or such other stock exchange or over-the-counter market the common shares are then listed on) for the 20 consecutive trading days ending five trading days prior to the date fixed for maturity.
SOURCE Softrock Minerals Ltd
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.