Day4 Energy Inc.

Day4 Energy Inc.

August 20, 2012 20:11 ET

Day4 Energy Inc. Announces Court Approval of Arrangement

BURNABY, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2012) - Day4 Energy Inc. ("Day4") is pleased to announce that the plan of arrangement (the "Arrangement") between Day4 and 0941212 B.C. Ltd. ("094"), a company indirectly controlled by George Rubin (President and CEO of Day4) and Douglas Keast (Executive Vice-President and CFO of Day4), has received court approval in a decision released today by the Supreme Court of British Columbia.

All necessary approvals for the Arrangement have now been received, and the Arrangement is expected to be completed on August 27, 2012 following the entering of the final court order.

Under the terms of the Arrangement, Day4 will transfer all of its business, assets and operations to 094 in exchange for cash consideration of $500,000 and 094 will assume all of the liabilities of Day4.

Contact Information

  • Day4 Energy Inc.
    Rick Peterson
    Investor Relations
    604-296-0434 (FAX)