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Obsidian Energy Announces Important Amendments to its Offer to Purchase the Shares of Bonterra Energy Corp.
Obsidian Energy Announces Important Amendments to its Offer to Purchase the Shares of Bon...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n \n \n \n Obsidian Energy Announces Important Amendments to its Offer to Purchase the Shares of Bonterra Energy Corp.\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Offer to purchase Bonterra extended to\n \n January 25, 2021\n \n \n \n \n \n Minimum tender condition lowered to 50% of Bonterra Energy Corp.'s outstanding shares\n \n \n \n \n Improved valuation following Obsidian Energy Ltd. share price up 110% in the last month, compared to 4% for Bonterra Energy Corp.\n \n \n \n \n \n \n *This news release contains multimedia – to view the full PDF version as it is intended, please\n \n \n click here\n \n \n .*\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 21, 2020\n \n /CNW/ - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (\"\n \n Obsidian\n \n \n Energy\n \n \" or the \"\n \n Company\n \n \") today announced that the Company has extended its offer (the \"\n \n Offer\n \n \") to purchase all of the issued and outstanding common shares (the \"\n \n Bonterra\n \n \n Shares\n \n \") of Bonterra Energy Corp. (TSX: BNE) (\"\n \n Bonterra\n \n \") to\n \n 5:00 p.m. (Mountain Standard Time) on Monday\n \n , January 25, 2021. The extension provides Bonterra shareholders an additional opportunity to fully evaluate the Offer's ability to create a stronger, well-positioned company with a far superior future, reflect on recent changes in the relative value of Obsidian Energy and Bonterra, and recognize the positive impact of recent industry consolidation announcements on share price performance.\n \n \n \"Our Offer is a compelling opportunity for Bonterra shareholders to be part of an efficient, competitive company with a solid future,\" said\n \n Stephen Loukas\n \n , Obsidian Energy's Interim President and CEO. \"Since we made our original offer, industry consolidation has accelerated over the past few months as boards seize opportunities to build increased scale, efficiency and resilience. We expect this trend to continue and we urge Bonterra shareholders to take advantage of this op...