CALGARY, ALBERTA--(Marketwired - Jan. 27, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Eagle Energy Trust (the "Trust" or "Eagle") (TSX:EGL.UN) and Maple Leaf Royalties Corp. ("Maple") (TSX VENTURE:MPL) are pleased to announce the completion of the previously announced plan of arrangement (the "Arrangement") whereby Eagle has acquired all of the issued and outstanding common shares of Maple and converted into a corporation called "Eagle Energy Inc.". The common shares of Eagle Energy Inc. are listed on the Toronto Stock Exchange under the symbol "EGL".
Commenting on the completion of the Arrangement, Richard Clark, President and Chief Executive Officer of Eagle, said, "By acquiring Maple Leaf, Eagle has added approximately 235 barrels of oil equivalent per day ("boe/d") of royalty interest production and approximately 161 boe/d of non-operated working interest production from attractive Alberta plays without any incremental capital expenditures or debt assumed. Eagle's conversion from a trust to a corporation simplifies its structure and will facilitate the comparison of Eagle to its peers."