CALGARY, AB, Dec. 17, 2021 /CNW/ - Storm Resources Ltd. ("Storm" or the "Company") (TSX: SRX) has closed the previously announced transaction with Canadian Natural Resources Limited ("CNRL") pursuant to a plan of arrangement (the "Arrangement").
Pursuant to the Arrangement, shareholders of Storm are entitled to receive $6.28 in cash for each share held as of December 17, 2021, the effective time of the Arrangement. Any Storm shareholders who do not hold their shares in a brokerage account can submit a letter of transmittal along with their share certificates to Alliance Trust Company to receive the cash consideration under the Arrangement, which will be mailed to all registered shareholders. A copy of the letter of transmittal is available under Storm's profile at www.sedar.com. Shareholders of Storm who hold their shares through an intermediary (e.g. broker, investment dealer, trust company or bank) are not required to submit a letter of transmittal, as their cash consideration will be deposited into their brokerage account.
The Storm shares will be de-listed from the Toronto Stock Exchange within a few trading days and Storm will make an application to cease to be a reporting issuer.
Additional information regarding the Arrangement is provided in the management information circular of Storm dated November 19, 2021, which is available on the SEDAR website at www.sedar.com under Storm's profile.
READER ADVISORIES
Certain information in this press release contains forward-looking information that involves risk and uncertainty. For this purpose, any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements often contain terms such as "may", "will", "should", "anticipate", "expects" and similar expressions. More particularly, and without limitation, this press release contains forward looking information relating to Storm's intention to de-list from the Toronto Stock Exchange and the timing thereof; Storm's intention to make an application to cease to be a reporting issuer and the timing thereof; and the payment of cash consideration to shareholders of Storm. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Storm assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE Storm Resources Ltd.
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