Business
Canacol Obtains Court Approval of Sale and Investment Solicitation Process
CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) -- (“Canacol” or the “Company”) announces that the Court of King’s Bench of Alberta (the “Canadian Court”) has approved the Company’s sale and investment solicitation process (“SISP”) authorizing the Company, with the assistance and oversight of the Sale Advisor (as defined below) and KPMG Inc. in its capacity as court-appointed Monitor (the “Monitor”), to implement the SISP in accordance with the approved procedures. The Court also approved the e
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[{"type":"image","alt":"Canacol Energy Ltd.","displaySize":"","headline":null,"caption":"Canacol Energy Ltd.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":71,"url":"https://media.zenfs.com/en/globenewswire.com/10add98f60bc5509d36aa7a7eabc900e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/jcMog60VhN_UpDyYHUMS_Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk5O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/10add98f60bc5509d36aa7a7eabc900e","width":300,"height":71}},"lazy":false},{"type":"text","content":"CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) -- (“Canacol” or the “Company”) announces that the Court of King’s Bench of Alberta (the “Canadian Court”) has approved the Company’s sale and investment solicitation process (“SISP”) authorizing the Company, with the assistance and oversight of the Sale Advisor (as defined below) and KPMG Inc. in its capacity as court-appointed Monitor (the “Monitor”), to implement the SISP in accordance with the approved procedures.","length":470,"tagName":"p"},{"type":"text","content":"The Court also approved the engagement of Moelis & Company LLC (the “Sale Advisor”) as the Company’s exclusive financial advisor and investment banker in connection with the SISP. The Sale Advisor will assist the Company in the solicitation and diligence process contemplated by the SISP in consultation with the Company, the Monitor and, where required, certain other stakeholders described in the SISP.","length":408,"tagName":"p"},{"type":"text","content":"In addition, the Company announces that, on February 26, 2026, the Colombian Superintendency of Companies (Superintendencia de Sociedades) recognized the SISP-related orders issued by the Canadian Court. This recognition affirms that the SISP are appropriate under applicable Colombian law and supports the coordinated administration of the cross-border restructuring process, including the protection of the Company’s assets in Colombia.","length":438,"tagName":"p"},{"type":"text","content":"Any acceptable acquisition or investment offer resulting from the SISP will require prior approval by the Canadian Court, which order will be subject to recognition and review by the Colombian Superintendency of Companies.","length":222,"tagName":"p"},{"type":"text","content":"Interested parties are invited to review the SISP procedures posted on the Monit...