CALGARY, AB, Dec. 17, 2021 /CNW/ - Storm Resources Ltd. ("Storm" or the "Company") (TSX: SRX) has closed the previously announced transaction with Canadian Natural Resources Limited ("CNRL") pursuant to a plan of arrangement (the "Arrangement").
Pursuant to the Arrangement, shareholders of Storm are entitled to receive $6.28 in cash for each share held as of December 17, 2021, the effective time of the Arrangement. Any Storm shareholders who do not hold their shares in a brokerage account can submit a letter of transmittal along with their share certificates to Alliance Trust Company to receive the cash consideration under the Arrangement, which will be mailed to all registered shareholders. A copy of the letter of transmittal is available under Storm's profile at www.sedar.com. Shareholders of Storm who hold their shares through an intermediary (e.g. broker, investment dealer, trust company or bank) are not required to submit a letter of transmittal, as their cash consideration will be deposited into their brokerage account.
The Storm shares will be de-listed from the Toronto Stock Exchange within a few trading days and Storm will make an application to cease to be a reporting issuer.
Additional information regarding the Arrangement is provided in the management information circular of Storm dated November 19, 2021, which is available on the SEDAR website at www.sedar.com under Storm's profile.