May 01, 2014 17:04 ET
CALGARY, ALBERTA--(Marketwired - May 1, 2014) - Whitecap Resources Inc. ("Whitecap") (TSX:WCP) is pleased to announce that all matters presented for approval at the annual meeting of shareholders held today have been fully authorized and approved. A total of 108,075,744 common shares representing 54.05% of Whitecap's issued and outstanding common shares were voted in connection with the meeting.
At the meeting, all of the nominees proposed as directors were duly elected as directors of Whitecap with a majority of votes cast by the shareholders present or represented at the meeting as follows:
In addition, Whitecap is pleased to announce it has closed the disposition of certain Nisku natural gas production and related facilities located in the Pembina area to Keyera Corp. for gross proceeds of approximately $113 million. Some of the assets are subject to third party claims, including certain reserves which are subject to rights of first refusal ("ROFRs"). The reserves to which ROFRs apply, together with the corresponding purchase price, are being held in escrow pending the expiry or exercise of the ROFRs.
Whitecap Resources Inc. is a dividend paying, oil-weighted company focused on providing sustainable monthly dividends to its shareholders and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets. For further information about Whitecap please visit our website at www.wcap.ca.
Whitecap Resources Inc.Grant FagerheimPresident & CEOMain Phone: (403) 266-0767Whitecap Resources Inc.Thanh KangVP Finance and CFOMain Phone: (403) 266-0767(403) 266-6975 (FAX)www.wcap.ca
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