Junex Inc. Mails Circular to Shareholders in Connection With Business Combination

QUÉBEC CITY, July 12, 2018 (GLOBE NEWSWIRE) -- Junex Inc. (“Junex”) (TSXV:JNX) announces that it has mailed to its shareholders a management information circular dated July 6, 2018 (the “Circular”) in connection with the proposed business combination between Junex and Cuda Energy Inc. announced on June 11, 2018 (the “Proposed Transaction”). Junex obtained an interim order from the Superior Court of Québec on July 4, 2018 under which it will hold a meeting of its shareholders on Thursday, August 2, 2018, at 11:00am at the Hotel Bonaventure in Montreal, Quebec, in order to vote on the Proposed Transaction.

The Proposed Transaction remains subject to customary closing conditions, including approval by Junex’s shareholders and final approval from the Superior Court of Québec. Subject to satisfaction of these closing conditions, the Proposed Transaction is expected to close on or about August 10, 2018.

Junex’s board of directors has unanimously recommended that Junex’s shareholders VOTE IN FAVOUR of the Proposed Transaction. In addition, KPMG LLP, as financial advisor to Junex’s special committee, has provided Junex’s board with an opinion that, the consideration to be received by Junex shareholders pursuant to the Proposed Transaction is fair, from a financial point of view, to Junex’s shareholders. A copy of that opinion appears in the Circular.

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY. Your vote is important regardless of the number of shares you own. Junex shareholders are encouraged to read the Circular in detail.

Junex shareholders are being asked to vote in advance of the upcoming meeting on August 2. All shares must be voted prior to 5:00 p.m. (Eastern Time) on July 31, 2018. If you are mailing a signed Form of Proxy or Voting Instruction Form, please ensure that it arrives before this time. It is suggested that shareholders vote online or by telephone to prevent delays that may result in your vote not being received in time. If you have yet to receive your Junex proxy materials, please contact your financial intermediary and request they provide you with the control number associated with your Form of Proxy or Voting Instruction Form.

Junex shareholders who have questions regarding the Proposed Transaction or who require assistance with voting may contact D.F. King, Junex's proxy solicitation agent, by telephone toll free at 1-800-294-5107 (1-212-771-1133 by collect call) or by email at inquiries@dfking.com.

A copy of the Circular will be available on SEDAR at www.sedar.com, as well as Junex’s website at www.junex.ca.

For more information on the Proposed Transaction, please see Junex’s press release of June 11, 2018.

About Junex Inc.

Junex is a Québec SME that seeks to be a catalyst in accessing Québec's oil and gas resources, while ensuring that their development becomes an important means of creating collective wealth for Québeckers. Junex’s operations are conducted in a responsible manner, in strictest compliance with the rules, laws and regulations that govern oil and gas activities. To that end, every day it takes all measures to minimize the environmental impact of its activities.

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This news release contains forward-looking statements. All statements other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties and are based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. In particular, forward-looking information included in this release includes information relating to the closing date of the Proposed Transaction. Risk factors that could prevent such forward-looking statements from being realized include an inability to rapidly obtain a final order from the Superior Court of Québec relating to the Proposed Transaction. Although Junex has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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