Petrodorado Energy Announces Setting of Meeting Date and Mailing of Shareholder Materials

Vancouver, British Columbia and Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. (“Petrodorado” or the “Company”) (TSXV: PDQ), is pleased to announce that it has set a meeting date of March 7, 2018 at 10 a.m. (Calgary time) for the special meeting (the “Special Meeting”) to be held to consider the reverse take-over transaction with Western Atlas Resources Inc. (the “RTO”), amongst other matters, all as more particularly described in previous news releases of the Company, including the most recent news release of the Company dated February 5, 2018. The Meeting will be held at the offices of the Company’s counsel at Suite 760, 330 – 5^th Avenue SW, Calgary, AB. 

Additional information concerning the Special Meeting and the RTO will be included in the management information circular to be delivered to holders of Class B common shares in the capital of Petrodorado (“Petrodorado Shares”) setting forth the business to be conducted at the Special Meeting. The management information circular is currently being mailed to the Petrodorado shareholders and shareholders should be receiving the meeting materials in due course, in most cases through their broker or other intermediary. In addition, a copy of the management information circular will be filed on the Company’s SEDAR profile at www.sedar.com. Shareholders should review the information circular in detail as it contains important information about the RTO and the business of the Company to be conducted following the completion of same. Shareholders will also be receiving a form of proxy and should follow the instructions contained therein in order to ensure that their Petrodorado Shares are voted in accordance with their wishes.

Management of the Company is recommending that shareholders vote in favour of the matters described in the information circular, including (i) the approval of the RTO transaction, (ii) the change of the name of the Company to “Western Atlas Resources Inc.” or such other name as the board of directors may determine in their sole discretion, (iii) the continuation of the Company into British Columbia from Canada and (iv) the reclassification of the Class B common shares of the Company into common shares and the cancellation of the Class A common shares in the capital of the Company.

Shareholders should consult the Company’s transfer agent, TSX Trust Company, using the contact information set forth in the form of proxy or voting instruction form that they receive if they have any questions regarding how to complete and submit their proxy.

About Petrodorado

Petrodorado is engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is located in Calgary, Alberta, Canada and Petrodorado’s common shares are traded on the Exchange under the trading symbol “PDQ”.

For further information, please contact:

Chris Reid, President and CEO

Lynn Chapman, VP Finance and CFO

Phone: (403) 800-9240

Email: info@petrodorado.com

Website: www.petrodorado.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms and conditions of the proposed RTO; the Company’s objectives, goals or future plans; the receipt of the requisite approvals with respect to the RTO and the business and operations of the Company following the completion of the RTO. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in Petrodorado’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although Petrodorado believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Petrodorado and WAR disclaim any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Reader Advisory

Completion of the RTO is subject to a number of conditions, including but not limited to Petrodorado shareholder approval. The RTO cannot close until the required Petrodorado shareholder approval is obtained. There can be no assurance that the RTO will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Petrodorado should be considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed RTO and has neither approved nor disapproved the contents of this press release.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.

To view the original release, please click here

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