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Bonterra Energy Corp. Reiterates Recommendation for Shareholders to Reject the Hostile Bid by Taking No Action
Bonterra Energy Corp. Reiterates Recommendation for Shareholders to Reject the Hostile Bi...
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n \n \n \n Bonterra Energy Corp. Reiterates Recommendation for Shareholders to Reject the Hostile Bid by Taking No Action\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Custodians reporting holdings indicated under 1% of Bonterra's shares have been tendered\n \n \n Close to 40% of Bonterra shareholders continue to advise the Company they will\n \n \n NOT\n \n \n tender their shares\n \n \n Second amendment to extend the offer demonstrates the continued failure of the Hostile Bid\n \n \n Shareholders need to take no action to\n \n \n REJECT\n \n \n the offer\n \n \n \n \n CALGARY, AB\n \n ,\n \n Jan. 28, 2021\n \n /CNW/ - Bonterra Energy Corp. (\n \n www.bonterraenergy.com\n \n ) (TSX: BNE) (\"Bonterra\" or the \"Company\") and its Board of Directors reiterates the previous recommendation that shareholders reject Obsidian Energy Ltd.'s (\"Obsidian\") highly-conditional, unsolicited bid to acquire all of the issued and outstanding common shares of Bonterra in exchange for shares of Obsidian (the \"Hostile Bid\") and continues to strongly recommend that Bonterra shareholders\n \n \n TAKE NO ACTION\n \n \n and\n \n \n REJECT\n \n \n the Hostile Bid by\n \n \n NOT TENDERING\n \n \n their shares.\n \n \n \n Second Extension to Hostile Bid Made Despite Having Little to No Shareholder Support\n \n \n \n With the filing of the second Notice of Extension to the Hostile Bid, Obsidian has made no modifications other than to extend the tender date from\n \n January 25, 2021\n \n to\n \n March 29, 2021\n \n . This extension is approximately three additional months from the original expiry of\n \n January 4, 2021\n \n , prolonging the process to a total of seven month...