Prairie Provident Announces Closing of Marquee Energy Ltd. Acquisition

Nov 21, 2018

CALGARY, Alberta, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or “PPR” or the "Company") (TSX:PPR, Financial) and Marquee Energy Ltd. ("Marquee") (TSXV:MQX) announce that the Company's previously-disclosed acquisition of Marquee by plan of arrangement under section 193 of the Business Corporations Act (Alberta) (the "Arrangement"), which was approved by approximately 98% of the votes cast by Marquee shareholders at a special meeting held to consider the transaction, and subsequently approved by the Court of Queen's Bench of Alberta, has now closed. Pursuant to implementation of the Arrangement today, Prairie Provident acquired all of the outstanding Marquee shares on a share exchange basis, with Marquee shareholders receiving an aggregate of 38,609,416 common shares based on an exchange ratio of 0.0886 common shares of the Company for each Marquee share held.

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