Trident Exploration Corp.

Trident Exploration Corp.

May 16, 2014 13:16 ET

Trident Exploration Corp. Announces Further Extension and Amendment of its Consent Solicitation Commenced on April 17, 2014

CALGARY, ALBERTA--(Marketwired - May 16, 2014) - Trident Exploration Corp. (the "Company") announces a further extension to the expiration time of its solicitation of consents from holders of 8.25% Senior Unsecured Notes due 2018 (the "Notes") to certain proposed waivers and amendments, to the Trust Indenture dated as of April 13, 2011, by and among the Company, certain guarantors and Valiant Trust Company, as trustee, pursuant to which the notes were issued, subject to the conditions set forth in the solicitation statement dated April 17, 2014 and the accompanying consent form.

The solicitation will now expire at 5:00 p.m. (Calgary time) on Tuesday, May 27, 2014 (the "Extended Expiration Time"). The Company has provided holders a Notice of Extension dated May 16, 2014 advising of the Extended Expiration Time. The expiration time of the solicitation was previously extended by Notice of Extension dated May 2, 2014.

The terms of the solicitation are also amended to increase the consent fee from Cdn. $3.00 to Cdn. $5.00 per $1,000 principal amount of Notes in respect of which a valid consent is delivered prior to the Extended Expiration Time.

The Company will use a minimum of Cdn. $60 million of proceeds from the transaction to which the consent solicitation relates to repay indebtedness owed to its second lien secured lenders (inclusive of pre-payment fees and make-whole payments).

Holders who desire to receive the consent fee must deliver a consent to the proposed waivers and amendments pursuant to the solicitation prior to the Extended Expiration Time. Any delivery of a consent by a holder will be irrevocable and may not be withdrawn once received by the Tabulation Agent.

The Company has engaged CIBC World Markets Inc. as the Solicitation Agent and Valiant Trust Company as the Tabulation Agent under the Solicitation.

Requests for additional copies of the solicitation statement or the consent form and requests for assistance relating to the procedure for delivering consents or other questions may be directed to the Company or the Solicitation Agent at the addresses and telephone numbers provided below. Beneficial or non-registered holders of notes may also contact their broker, dealer, commercial bank, trust company or other nominee for assistance regarding the solicitation.

Contact Information

  • The Company: Trident Exploration Corp.
    Attention: Alan Withey
    (403) 770-1772
    1000, 444 - 7th Avenue S.W.
    Calgary, AB T2P 0X8

    Solicitation Agent: CIBC World Markets Inc.
    (416) 594-8515
    Brookfield Place
    161 Bay Street, 5th Floor
    Toronto, Ontario M5J 2S8

    Tabulation Agent: Valiant Trust Company
    (403) 233-2801
    310, 606 - 4th Street S.W.
    Calgary, AB T2P 1T1