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Alberta Clipper to list 13.1 million receipts on April 24
2007-04-20 20:27 ET - Prospectus Approved
TSX bulletin 2007-0522
An application has been granted for the listing of 13.1 million subscription receipts of Alberta Clipper Energy Inc. The subscription receipts are to be sold at a price of $4.20 per subscription receipt pursuant to the terms of a short form prospectus dated April 13, 2007.
The closing of the offering of the subscription receipts is expected to occur prior to the open on Tuesday, April 24, 2007. In anticipation of such closing, and subject to the occurrence of the closing of the prospectus offering, the subscription receipts will be posted for trading at the open on Tuesday, April 24, 2007.
Receipt symbol: ACN.R
Receipt Cusip No.: 01285R 20 3
Trading currency: Canadian dollars
Designated market-maker: National Bank Financial Inc.
Transfer agent and registrar: Olympia Trust Co. at its principal offices in Calgary and Toronto
Other markets: None
Each subscription receipt entitles the holder to receive, without payment of additional consideration, one common share of the company for each subscription receipt held, upon the closing of the indirect acquisition by the company of certain petroleum, and natural gas properties and related assets. The proceeds from the sale of the subscription receipts will be held by Olympia Trust Co. as the escrow agent, pending the closing of the acquisition.
If the acquisition fails to close by 5 p.m. (Calgary time) on May 31, 2007, the acquisition is terminated at any earlier time or the company has advised the underwriters or announced to the public that it does not intend to proceed with the acquisition, holders of subscription receipts shall be entitled to receive an amount equal to the full offering price therefor and their pro rata entitlement to interest on such amount.
The subscription receipts will be represented by a global certificate issued in registered form to the Canadian Depository for Securities Ltd. Beneficial interest in the global securities representing the subscription receipts will be shown on, and transfers thereof will be effected only through, records maintained by CDS and its participants.
The subscription receipts will be listed and posted for trading until the earlier of the completion of the acquisition, or the termination time or such other date as may be determined by the Toronto Stock Exchange. A further bulletin will be issued by the TSX confirming the terms of either:
1. the completion of the acquisition; or
2. the termination time, and the subsequent delisting of the subscription receipts.
The holders of subscription receipts are not shareholders of the company and are entitled only to receive shares on surrender of their subscription receipts to the escrow agent or to a return of the subscription price for the subscription receipts together with any payments of interest as described above.
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