CALGARY, Alberta, Sept. 14, 2017 (GLOBE NEWSWIRE) -- RMP Energy Inc. ("RMP" or the
"Company") (TSX:RMP) announces that it has filed its information circular and proxy statement dated September 13,
2017 (the "Information Circular") on the System for Electronic Document Analysis and Retrieval
("SEDAR") for the upcoming special meeting (the "Meeting") of holders of common shares of RMP
(the "Shareholders"). At the Meeting, the Shareholders will consider and vote upon the previously-announced
transformational asset disposition (the "Transaction"), pursuant to which the Company will dispose of all of its
crude oil and natural gas interests in the Waskahigan/Grizzly, Kabob, Gilby and Pine Creek areas of West Central Alberta, in
addition to other minor Alberta properties (collectively, the "Disposition Assets") for total consideration of
$80.0 million, subject to customary closing adjustments. The Company will retain its crude oil and natural gas properties and
associated interests in its core Elmworth area of operations (the "Retained Assets").
At the Meeting, the Company will also be seeking approval of Shareholders for a name change of the Company to
"Iron Bridge Resources Inc.". If approved, the name change will become effective upon filing of articles of
amendment of the Company, which is expected to be completed as soon as practicable following the Meeting. The trading symbol
"IBR" has been reserved for the Company by the Toronto Stock Exchange in connection therewith.
The Meeting is scheduled to be held on October 13, 2017 at 9:00 a.m. (Calgary time) in the Altius Centre,
Conference Room, 2nd Floor +15 Level, 500 - 4th Avenue S.W., Calgary, Alberta. The Information Circular contains
details concerning the Transaction and the Disposition Assets, outlines the strategic reasons for the Transaction, and provides
certain pro-forma information concerning the Company and the Retained Assets. In conjunction with preparation of the
Information Circular, the Company engaged McDaniel & Associates Consultants Ltd. to prepare an independent reserves evaluation of
the crude oil, natural gas liquids and natural gas reserves associated with the Retained Assets effective as of September 1, 2017
(the "Elmworth Reserves Evaluation"). A detailed summary of the results of the Elmworth Reserves
Evaluation, prepared in accordance with the standards and definitions contained in National Instrument 51‑101 – Standard of
Disclosure for Oil and Gas Activities, is contained in the Information Circular. Shareholders are urged to carefully
review the Information Circular and related materials (collectively, the "Meeting Materials") as they contain
important information regarding the Transaction.
The Board of Directors of the Company (the "Board") has unanimously determined that the
Transaction is in the best interests of RMP and the Shareholders. The Board unanimously recommends that Shareholders vote to
approve the Transaction at the Meeting. Principal shareholders of RMP, including all of its directors and officers, who
collectively own or control approximately 20.1% of the outstanding common shares of RMP entitled to be voted at the Meeting, have
entered into voting support agreements pursuant to which they have agreed to vote in favour of the Transaction.
GMP Securities L.P. (“GMP FirstEnergy”), the Company's financial advisor, has provided the Board with an opinion
that the consideration to be received by the Company pursuant to the Transaction is fair from a financial point of view, to the
Company (the "Fairness Opinion"). A complete copy of the Fairness Opinion is contained in the Information
Circular.
If the Transaction is approved by Shareholders at the Meeting, subject to satisfaction of customary conditions
to closing, the Transaction is expected to be completed on or about October 18, 2017.
Detailed voting instructions for registered and beneficial Shareholders wishing to cast their vote in person or
by proxy at the Meeting are contained in the Information Circular and within the instrument of proxy or voting instruction form
accompanying the Information Circular. The record date for Shareholders entitled to receive notice of and to vote at the
Meeting is September 13, 2017.
Copies of the Meeting Materials are filed under RMP's profile on SEDAR at www.sedar.com and have been posted on RMP's corporate website at www.rmpenergyinc.com.
For inquiries related to the Meeting or instructions on how to vote, Shareholders can contact the Company's
registrar and transfer agent, Computershare Trust Company of Canada, at 1-800-564-6253 in North America or at 514-982-7555
internationally.
For additional information about the Company, investors and Shareholders are also encouraged to review
the Company's latest corporate presentation which is posted on the Company's website at www.rmpenergyinc.com.
For more information, please contact:
RMP ENERGY INC.
Rob Colcleugh
Chief Executive Officer
(403) 930-6333
rob.colcleugh@rmpenergyinc.com
Dean Bernhard
Vice President, Finance and Chief Financial Officer
(403) 930-6304
dean.bernhard@rmpenergyinc.com
Cautionary Statement Regarding Forward Looking Statement
Certain information contained in this press release constitutes forward-looking information or statements
including, without limitation, information and statements respecting: the timing and results of the Meeting, the anticipated
completion of the Transaction and timing thereof, including satisfaction of conditions thereto and the anticipated name change of
the Company. Forward-looking information and statements are often, but not always, identified by the use of words such as
"anticipate", "seek", "believe", "expect", "hope", "plan", "intend", "forecast", "target", "project", "guidance", "may", "might",
"will", "should", "could", "estimate", "predict" or similar words or expressions suggesting future outcomes or language suggesting
an outlook. By their very nature, forward-looking information and statements involve inherent risks and uncertainties, both general
and specific, and risks that predictions, forecasts, projections and other forward-looking information and statements will not be
achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the
actual results to vary materially from the forward-looking information or statements.
RMP does not assume responsibility for the accuracy and completeness of the forward-looking information or
statements and such information and statements should not be taken as guarantees of future outcomes. Subject to applicable
securities laws, RMP does not undertake any obligation to revise these forward-looking information or statements to reflect
subsequent events or circumstances. Furthermore, the forward-looking information contained in this press release are made as of the
date of this document and RMP does not undertake any obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by applicable
law.
