MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Tuesday May 30 2017
Birchcliff Energy Ltd. Announces Declaration of Common Share Quarterly Dividend
Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) is pleased to announce that its board of directors has declared the following quarterly cash dividends for the calendar quarter ending June 30, 2017:
Shares TSX Stock Symbol Dividend per Share
Common Shares BIR $0.025
Redeemable Preferred Shares, Series ABIR.PR.A $0.500
Redeemable Preferred Shares, Series CBIR.PR.C $0.4375
The dividends are payable on June 30, 2017 to shareholders of record at the close of business on June 15, 2017. All of the dividends have been designated as eligible dividends for the purposes of the Income Tax Act (Canada).
Birchcliff is a Calgary, Alberta based intermediate oil and gas company with operations concentrated within its one core area, the Peace River Arch of Alberta. Birchcliff's Common Shares and Cumulative Redeemable Preferred Shares, Series A and Series C, are listed for trading on the Toronto Stock Exchange under the symbols "BIR", "BIR.PR.A" and "BIR.PR.C", respectively.
SOURCE Birchcliff Energy Ltd.
CaiTerra International Energy Corporation: Q2 Interim Financial Statements Filed
CaiTerra International Energy Corporation (TSX VENTURE:CTI) (the "Company") is pleased to report that it has filed with Canadian securities regulatory authorities its interim financial statements for the quarter ended March 31, 2017. The interim financial statements along with the related management discussion and analysis (MD&A) may be viewed on the Company's profile at www.sedar.com.
Caiterra International Energy Corp. (TSX-V: CTI) is a publicly traded oil and gas company pursuing acquisitions of international oil and gas exploration and production opportunities. Caiterra has currently built a significant portfolio of land positions in Alberta, specifically in the Faust, Lac La Biche and Amadou regions. The Company's Faust region claims are directly west of the prolific Mooney Pool. Caiterra is currently in the process of developing its exploration program and plans to realize growth through a combination of drilling programs and strategic acquisitions.
SOURCE CaiTerra International Energy Corporation
RockBridge proposes amalgamation
RockBridge Resources Inc. ("RockBridge" or the "Company" – TSXV symbol: RBE) is proposing a reorganization to include a share consolidation, shares for debt, moving the listing of its shares to the Canadian Securities Exchange ("CSE") and an amalgamation ("Amalgamation") with a private BC company.
It is proposed that the common shares of the Company be consolidated on the basis of 2.25 current shares for one post-consolidation share. An application is to be made to list the amalgamated company ("Amalco") as a continuing oil and gas issuer on the CSE and to delist RockBridge's common shares from the TSX Venture Exchange ("TSXV").
With respect to the proposed Amalgamation, the Company has now signed an amalgamation agreement ("Amalgamation Agreement") with 1100556 B.C. Ltd. ("BC"), of Vancouver, BC. In accordance with the agreement, BC is to complete and file with Health Canada, at its own expense on behalf of a new subsidiary of the Company, an application to become a marijuana licensed producer pursuant to the Access to Cannabis for Medicinal Purposes Regulations ("ACMPR"). In the process of completing the application, BC will also secure for the Company subsidiary, an interest in acreage in BC to facilitate the proposed build out of the marijuana production facility.
RockBridge and BC shall amalgamate to form Amalco as a new reporting issuer. The shares of BC, of which 23,800,000 are outstanding, are to be exchanged on the basis of one BC share for one Amalco share, of which 21,000,000 shall be subject to the standard CSE three year escrow. The shares of RockBridge are to be exchanged on the basis of 2.25 RockBridge shares for one Amalco share. Amalco shall issue 1,750,000 post-consolidation shares to settle all remaining debts of RockBridge to certain officers, directors and related companies. On completion of the Amalgamation and shares for debt, there shall be 32,658,184 shares of Amalco issued and outstanding, with a listing of the Amalco shares on the CSE.
The Amalgamation is subject to the conditions precedent set out in the Amalgamation Agreement, including: (i) RockBridge obtaining TSXV approval to delist its shares; (ii) approval of the Amalgamation by shareholders of RockBridge, at a special meeting to be held, and byshareholders of BC; (iii) filing of the ACMPR application with Health Canada (iv) approval by the CSE of the listing of the Amalco shares; and (v) completion of a financing in an agreed amount within six months of the Amalgamation, failing which the 21,000,000 escrowed shares issued to BC shareholders shall be cancelled.
Upon completion of the Amalgamation, it is anticipated that the board of directors of Amalco will comprise of three individuals, including William Spratt of Vancouver BC, the current CEO of BC and the intended CEO of Amalco, and Steve Mathiesen, the current Chairman and CEO of RockBridge.
More details will be provided as the Company proceeds through the steps of the Amalgamation and related transactions.
RockBridge has grown to approximately 105 barrels of oil equivalent per day (boepd) primarily by executing on its plan of growth through domestic acquisition.
RockBridge, with its current share structure and solid financial position, is well positioned to execute on its strategy of growth through technically and financially sound acquisition. The Company is actively seeking to increase its production and revenue, primarily through acquisitions of producing assets in Western Canada or through a potential merger with smaller or equal companies with a good production base.
SOURCE RockBridge Resources Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.