CALGARY, ALBERTA -- (Marketwired) -- 08/26/15 -- StonePoint Energy Inc. (TSX VENTURE: STO) ("StonePoint" or the "Company") is pleased to announce it has filed on SEDAR its financial statements and related management's discussion and analysis ("MD&A") for the six months ended June 30, 2015. The financial statements and MD&A are available for review on SEDAR at www.sedar.com as well as the Company's website at www.stonepointenergy.com.
As previously announced, StonePoint has entered into an arrangement agreement with Endurance Energy Ltd. ("Endurance") pursuant to which Endurance has agreed to acquire all of the outstanding common shares of StonePoint for cash consideration of $0.078125 per share (the "Arrangement"). StonePoint has called a special meeting (the "Meeting") of shareholders to be held on September 3, 2015 for the purpose of approving the Arrangement. Assuming shareholders approve the Arrangement at the Meeting and the other conditions to closing are satisfied, it is expected that the Arrangement will close in the afternoon of September 3rd and that StonePoint's common shares will subsequently be delisted from the TSX Venture Exchange. For additional information with respect to the Arrangement, please see the information circular and proxy statement (the "Information Circular") of StonePoint in respect of the Meeting, which is available on SEDAR and on the Company's website.
Certain information set forth in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expects", "believes", "will" and similar expressions and statements relating to matters that are not historical facts, contains forward-looking statements, including statements regarding the proposed Arrangement, the anticipated timing of closing and the delisting of the StonePoint common shares. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond StonePoint's control. Completion of the Arrangement and the anticipated timing thereof is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions, the emergence of a superior proposal or the failure to obtain approval of the StonePoint shareholders may result in the termination of the arrangement agreement. The foregoing list is not exhaustive. Additional information on these and other risks that could affect completion of the Arrangement are set forth in the Information Circular. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of StonePoint could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that StonePoint will derive therefrom. StonePoint disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
StonePoint Energy Inc.
Steve VanSickle, President & CEO
(403) 351-6508
svansickle@stonepointenergy.com
www.stonepointenergy.com
