CALGARY, Alberta, Dec. 15, 2020 (GLOBE NEWSWIRE) — Cenovus Vitality Inc. (TSX: CVE) (NYSE: CVE) and Husky Vitality Inc. (TSX: HSE) are happy to announce that securityholders from each firms have voted to help the proposed transaction, announced October 25, 2020, to mix the 2 firms right into a resilient built-in power chief.
On December 15, 2020, Cenovus and Husky held separate particular shareholder conferences by way of dwell webcast. Every firm’s securityholders, respectively, voted on resolutions in reference to the proposed enterprise mixture as described within the Joint Administration Data Round dated November 9, 2020.
- On the Cenovus particular assembly, the decision authorizing the issuance of Cenovus frequent shares and warrants to Husky frequent shareholders beneath the Plan of Association, as set out within the Joint Administration Data Round, was authorized by 93.31% of the votes forged.
- On the Husky particular assembly, the decision approving the Plan of Association was authorized by 99.94% of the votes forged by Husky frequent shareholders and 99.92% of the votes forged by Husky frequent shareholders and optionholders, voting collectively as a single class.
- As well as, the decision approving the change of Husky most well-liked shares for Cenovus most well-liked shares was authorized by 97.85% of the votes forged by Husky most well-liked shareholders, voting collectively as a single class.
The completion of the mix stays topic to approval of the Courtroom of Queen’s Bench of Alberta and the receipt of all obligatory regulatory approvals.
This information launch comprises sure forward-looking statements and forward-looking info (collectively known as “forward-looking info”) inside the that means of relevant securities laws, together with america Non-public Securities Litigation Reform Act of 1995, about our present expectations, estimates and projections concerning the future, based mostly on sure assumptions made by Cenovus and Husky in mild of their expertise and notion of historic developments. Though Cenovus and Husky imagine that the expectations represented by such forward-looking info are affordable, there might be no assurance that such expectations will show to be right. Ahead-looking info on this information launch consists of strategies of future outcomes, together with statements about: the receipt of the approval of the Courtroom of Queen’s Bench of Alberta and the receipt of all obligatory regulatory approvals.
Readers are cautioned to not place undue reliance on forward-looking info as Cenovus’s precise outcomes could differ materially from these expressed or implied. Cenovus and Husky undertake no obligation to replace or revise any forward-looking info besides as required by regulation. Growing forward-looking info entails reliance on a lot of assumptions and consideration of sure dangers and uncertainties, a few of that are particular to Cenovus and/or Husky and others that apply to the business typically. Materials components or assumptions on which the forward-looking info on this information launch is predicated embrace profitable closing of the transaction inside anticipated timelines.
Extra details about assumptions, danger components and uncertainties on which the forward-looking info is predicated and that would trigger Cenovus’s precise outcomes to vary materially from any estimates or projections of future efficiency or outcomes expressed or implied by such forward-looking statements are described in Cenovus’s 2020 steerage (dated April 1, 2020), Cenovus’s Administration’s Dialogue and Evaluation (MD&A) for the yr ended December 31, 2019 and its MD&A for the interval ended September 30, 2020 in addition to its Annual Data Type (AIF) and Type 40-F for the interval ended December 31, 2019 (every accessible at cenovus.com).
Husky’s Annual Data Type for the yr ended December 31, 2019, Administration’s Dialogue and Evaluation for the three and 9 months ended September 30, 2020 and different paperwork filed with securities regulatory authorities (accessible by means of the SEDAR web site at sedar.com and the EDGAR web site at sec.gov) describe a few of the dangers, materials assumptions and different components that would affect precise leads to respect of Husky and are included herein by reference.
Cenovus Vitality Inc. is a Canadian built-in oil and pure gasoline firm. It’s dedicated to maximizing worth by sustainably growing its belongings in a protected, progressive and cost-efficient method, integrating environmental, social and governance concerns into its enterprise plans. Operations embrace oil sands initiatives in northern Alberta, which use specialised strategies to drill and pump the oil to the floor utilizing a method known as steam-assisted gravity drainage (SAGD). The corporate additionally has typical crude oil, pure gasoline and pure gasoline liquids belongings in Alberta and British Columbia in addition to 50% possession in two U.S. refineries. Cenovus shares commerce beneath the image CVE and are listed on the Toronto and New York inventory exchanges. For extra info, go to cenovus.com.
Husky Vitality is a Canadian-based built-in power firm. It’s headquartered in Calgary, Alberta, and its frequent shares are publicly traded on the Toronto Inventory Alternate beneath the image HSE. The Firm operates in Canada, america and the Asia Pacific area with two enterprise segments. The Built-in Hall consists of bitumen from thermal initiatives within the Lloydminster space of Saskatchewan, together with the Tucker Thermal Venture and the Dawn Vitality Venture in Alberta, with manufacturing built-in into Husky’s downstream operations, which incorporates upgrading, refining and advertising of refined petroleum merchandise. The Offshore enterprise consists of crude oil manufacturing offshore Newfoundland and Labrador and pure gasoline and liquids manufacturing offshore China and Indonesia. For extra info, go to huskyenergy.com.
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|Sherry Wendt, Director, Investor Relations||Brett Harris, Supervisor, Communications|
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|Leo Villegas, Director, Investor Relations||Kim Guttormson, Supervisor, Communication Companies|