Obsidian Energy Announces Filing of Resale Shelf Registration Statement for Administrative Purposes

About this update from Obsidian Energy Ltd

[{"type":"text","content":"Obsidian Energy Announces Filing of Resale Shelf Registration Statement for Administrative PurposesCalgary, Alberta--(Newsfile Corp. - August 5, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") announced that it has filed a resale shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (the \"SEC\") on August 2, 2024, for administrative purposes related to the holdings of Stephen Loukas, the Company's President and Chief Executive Officer and John Brydson, an independent member of the Board of Directors. Notwithstanding that the Company's common shares (\"Common Shares\") are listed and traded on the NYSE American, some of the Common Shares held by Messrs. Loukas and Brydson have not previously been the subject of a registration statement with the SEC. As affiliates of the Company, without a registration statement, Messrs. Loukas and Brydson, both U.S. residents, face a number of administrative issues related to their holdings of the Common Shares, including being unable to deposit their Common Shares in any U.S. brokerage account in the ordinary course and having to retain physical share certificates. The registration statement will permit Messrs. Loukas and Brydson to deposit their Common Shares in U.S. brokerage accounts and relates to the possible offer and sale, from time to time, by Messrs. Loukas and Brydson of up to 668,933 Common Shares. The registration of the Common Shares does not necessarily mean that any of the Common Shares will be offered or sold by Messrs. Loukas and Brydson, each of which has advised the Company that the registration statement is being filed with a view to the administrative issues outlined above and that they have no present intention to sell the Common Shares being registered.The Company is not registering any shares to sell for itself and will receive no proceeds from any sales of Common Shares by Messrs. Loukas and Brydson but will incur customary expenses in connection with the registration.A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitut...

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