PRD Energy Inc.

PRD Energy Inc.

July 28, 2017 17:37 ET

PRD Energy Announces it Has Ceased to be a Reporting Issuer

CALGARY, ALBERTA--(Marketwired - July 28, 2017) - PRD Energy Inc. ("PRD" or the "Company") announced that effective as of July 28, 2017, it has ceased to be a reporting issuer in each of the Provinces of Alberta and British Columbia and is no longer a reporting issuer in any jurisdiction in Canada.

PRD expects to complete its liquidation and dissolution and final distribution of the net proceeds of its liquidation in the second quarter of 2017.

Forward looking information

This news release contains forward-looking statements and information within the meaning of applicable securities laws including statements regarding: the final distributions to PRD shareholders and expected timing thereof; and the dissolution of PRD.

Although PRD believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based upon currently available information to PRD. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in forward-looking statements. Risks include, but are not limited to: receipt of all required regulatory approvals, changes in tax laws, the ability to liquidate the remaining assets of the Company and make distributions to shareholders, the ability to dissolve PRD and the risks associated with the oil and gas industry. Readers are cautioned to not place undue reliance on forward-looking statements.

The statements in this news release are made as of the date of this release, and, except as required by applicable law, PRD does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. PRD undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of PRD or the transactions discussed herein.

Contact Information

  • Michael Greenwood
    Chairman and Chief Executive Officer
    (403) 604-6501

    Graeme Ryder
    Vice President, Finance and Chief Financial Officer
    (403) 880-4729