WHITECAP RESOURCES INC. ANNOUNCES COMPLETION OF ARRANGEMENT WITH INVICTA ENERGY CORP. AND RESULTS OF SHAREHOLDERS' MEETING
CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that Whitecap has completed the previously announced acquisition of Invicta Energy Corp. (“Invicta”) (TSXV: VCA) pursuant to a plan of arrangement (the "Arrangement") under the provisions of the Business Corporations Act (Alberta). Whitecap has acquired all of the issued and outstanding common shares of Invicta for $219,324 in cash and the issuance of an aggregate of 4,832,188 common shares of Whitecap and also assumed Invicta’s debt.
Whitecap is also pleased to announce that all matters presented for approval at the annual and special meeting of shareholders held today have been fully authorized and approved. A total of 89,901,049 common shares representing 68.91% 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:
|Name of Nominee||Shares Voted For||Percentage|
|Grant B. Fagerheim||83,628,302||93.80|
|Donald G. Cowie||83,392,128||93.54|
|Gregory S. Fletcher||83,953,731||94.17|
|Glenn A. McNamara||84,664,493||94.69|
|Murray K. Mullen||86,290,646||96.79|
|Stephen C. Nikiforuk||83,832,836||94.03|
|Grant A. Zawalsky||69,674,292||78.15|
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.
To view the full press release, click here for the pdf.