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WHITECAP CLOSES ACQUISITION OF SPRY ENERGY

CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it successfully closed the previously announced plan of arrangement (the "Arrangement") with Spry Energy Ltd. ("Spry").  Pursuant to the Arrangement, Whitecap acquired all of the issued and outstanding common shares of Spry for $130,898,000 in cash and the issuance of an aggregate of 8,228,023 common shares ("Common Shares") of Whitecap. Whitecap also assumed the debt and working capital of Spry, estimated at $36.0 million as at March 1, 2011.

 

To read the full press release, click here to download PDF.

Profitable Per Share Growth Within Funds Flow

Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders.

We are focused on providing sustainable dividends and profitable per share growth enhanced by value added acquisitions.

Whitecap's common shares are traded on the Toronto Stock Exchange under the symbol WCP.

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