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WHITECAP RESOURCES INC. AND VEREN INC. ANNOUNCE RECEIPT OF FINAL ORDER FOR PLAN OF ARRANGEMENT
WHITECAP RESOURCES INC. AND VEREN INC. ANNOUNCE RECEIPT OF FINAL ORDER FOR PLAN OF ARRANGEMENT ...
About this update from Whitecap Resources Inc.
[{"type":"text","content":"\n\n\n\n WHITECAP RESOURCES INC. AND VEREN INC. ANNOUNCE RECEIPT OF FINAL ORDER FOR PLAN OF ARRANGEMENT\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n May 8, 2025\n \n\n /CNW/ - Whitecap Resources Inc. (\"\n \n Whitecap\n \n \") (TSX: WCP) and Veren Inc. (\"\n \n Veren\n \n \") (TSX: VRN) (NYSE: VRN) are pleased to announce that the Court of King's Bench of\n \n Alberta\n \n has granted the final order in connection with the previously announced plan of arrangement under Section 193 of the\n \n Business Corporations Act\n \n (\n \n Alberta\n \n ) (the \"\n \n Business Combination\n \n \"), pursuant to which Whitecap will acquire all of the issued and outstanding common shares of Veren. Under the terms of the Business Combination, Veren shareholders will receive 1.05 common shares of Whitecap for each Veren common share held. Approval of the Whitecap shareholders and the Veren shareholders in connection with the Business Combination was obtained on\n \n May 6, 2025\n \n at special meetings of Whitecap shareholders and Veren shareholders, respectively.\n \n\n Subject to the satisfaction or waiver of the conditions to implementing the Business Combination as set out in the business combination agreement dated\n \n March 9, 2025\n \n between Whitecap and Veren, the Business Combination is anticipated to be completed on\n \n May 12, 2025\n \n and Veren's common shares are expected to be delisted from the Toronto Stock Exchange (\"\n \n TSX\n \n \") at close of markets on\n \n May 13, 2025\n \n .\n \n\n\n U.S. INVESTOR CONSIDERATIONS\n \n\n\n Assuming that the Business Combination closes before markets open on\n \n Monday, May 12, 2025\n \n as is currently planned, Veren's common shares will cease trading on the New York Stock Exchange (\"\n \n NYSE\n \n \") at such time. Whitecap's common shares will not be listed on the NYSE and Whitecap intends to terminate any reporting obligations it may have with the Securities and Exchange Commission (\"\n \n SEC\n \n \") as a result of this transaction. In...