Vancouver, British Columbia--(Newsfile Corp. - February 5, 2013) - Nova Bancorp announced on February 1, 2013 its reasons for
opposing the proposed business combination (the “Arrangement”) involving Pace
Oil & Gas Ltd. (“Pace”), AvenEx Energy Corp. and Charger Energy Corp. Nova
Bancorp intends to vote against the Arrangement. We urge other concerned Pace
Shareholders to do the same as follows:
| 1. |
Vote against the Arrangement using the form
of proxy or voting instruction provided by Pace. |
| |
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| 2. |
The cutoff for internet or telephone voting is
10:00 am Calgary time Wednesday, February 13 to meet the
Pace deadline of Thursday, February 14. |
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|
| 3. |
Shareholders using internet or telephone voting can
change their voting instructions more than once and at any time
prior to the cutoff. |
| |
|
| 4. |
Do not appoint Nova Bancorp Ltd., Jack Muir
or Rick Wlodarczak as your appointee. Leave blank or name another
individual. |
To keep Pace Shareholders informed in the days ahead, today we
are launching our website www.keeppace.ca.
This solicitation is being made by Nova Bancorp and not by or
on behalf of the management of Pace Oil & Gas Ltd. Except for certain
non-public solicitations, any solicitation will be made by broadcast, speech or
publication. Nova Bancorp will bear all the costs and expenses associated with
such solicitation. Affiliates or associates of Nova Bancorp own an aggregate of
108,200 Pace common shares (“Shares”), representing approximately 0.23% of the
total Shares issued and outstanding as of the record date. Nova Bancorp
Investments Ltd., an affiliate of Nova Bancorp owns 65,200 Shares. Jack Muir and
Rick Wlodarczak own or control an aggregate of 43,000 Shares. Messrs. Muir and
Wlodarczak are officers of Nova Bancorp and its affiliates.
Vote against the Arrangement using the form of
proxy or voting instruction provided by Pace. Shareholders may subsequently
revoke such proxy in any manner permitted by law. If you have previously voted
on the form of proxy or voting instruction form sent to you by Pace, you may
revoke your vote by voting on the internet, by fax, by mail or over the
telephone (as available). Only your latest dated form of proxy or voting
instruction form will be counted.
The address of Pace Oil & Gas Ltd. is 1700, 250-2 Street
S.W., Calgary, Alberta T2P 0C1.
Nova Bancorp is a member of Nova Bancorp Group
(www.novabancorp.com), a private investment company based in Vancouver.
Nova Bancorp has considerable experience with oil & gas investments and with
shareholder activist situations.
For further information contact:
Jack
Muir
604-891-8782
jackmuir@novabancorp.com
or
Rick
Wlodarczak
604-891-8791
rickwlodarczak@novabancorp.com
Forward-Looking Statements
Certain statements in this press release contain
forward-looking information within the meaning of applicable securities laws in
Canada (“forward-looking information”). The words “anticipates”, “believes”,
“budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”,
“might”, “plans”, “projects”, “schedule”, “should”, “will”, “would” and similar
expressions are often intended to identify forward-looking information, although
not all forward-looking information contains these identifying words.
The forward-looking information in this press release includes,
but is not limited to: the timing and holding of the Pace meeting and the future
prospects of Pace.
In connection with the forward-looking information contained in
this news release, Nova Bancorp has made numerous assumptions. While Nova
Bancorp considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies. Additionally,
there are known and unknown risk factors which could cause actual results,
performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information contained herein.
All forward-looking information in this press release is
qualified in its entirety by this cautionary statement and, except as may be
required by law, Nova Bancorp undertakes no obligation to revise or update any
forward-looking information as a result of new information, future events or
otherwise after the date hereof.