Junex Announces Shareholder Approval of Arrangement

QUÉBEC CITY, Aug. 02, 2018 (GLOBE NEWSWIRE) -- Junex Inc. (“Junex”) (TSXV:JNX) is pleased to announce that its shareholders have voted to approve its proposed business combination with Cuda Energy Inc. (“Cuda”) by way of plan of arrangement (the “Arrangement”) at a special meeting of Junex’s shareholders (the “Meeting”) held earlier today. A total of 51,829,100 shares, representing 58.5% of Junex’s total outstanding shares, were voted at the Meeting. Of the votes cast, 51,258,569 (representing 98.9% of the total number of Junex shares voted), were in favour of the Arrangement.

Junex will make application to the Superior Court of Québec for a final order approving the Arrangement on August 9, 2018. Junex and Cuda expect to complete the Arrangement on or about August 10, 2018. The combined company resulting from the Arrangement will operate under the name “Cuda Oil and Gas Inc.” and its shares will trade on the TSX Venture Exchange under the symbol “CUDA”.

For more information on the Arrangement, 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 assumptions and expectations with regard to the Arrangement and its completion. Risk factors that could prevent such forward-looking statements from being realized include litigation and regulatory factors that render Junex unable to complete the Arrangement in a timely fashion, or at all. 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.