Saturn Oil & Gas Completes Vertical Amalgamation and Continuance Into Alberta
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF) has completed two significant corporate restructuring moves effective January 2025. First, the company executed a vertical short-form amalgamation with its wholly-owned subsidiary, Saturn Holdings SK on January 1. Second, on January 3, the company completed its continuance from Saskatchewan to Alberta jurisdiction, which was previously approved by shareholders with 94.94% support in May 2024.
These corporate actions aim to streamline operations and reduce expenses. The amalgamation consolidates Saturn's asset base and development activities under one corporate entity, while the continuance to Alberta aligns with the company's Calgary head office location and management presence. No action is required from existing shareholders, and share certificates remain unaffected by these changes.
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF) ha completato due importanti operazioni di ristrutturazione aziendale con effetto da gennaio 2025. In primo luogo, l'azienda ha eseguito un'amalgamazione verticale in forma abbreviata con la sua sussidiaria interamente controllata, Saturn Holdings SK, il 1 gennaio. In secondo luogo, il 3 gennaio, l'azienda ha completato il passaggio dalla giurisdizione del Saskatchewan a quella dell'Alberta, precedentemente approvato dagli azionisti con un supporto del 94,94% a maggio 2024.
Queste azioni aziendali mirano a semplificare le operazioni e ridurre i costi. L'amalgamazione consolida la base patrimoniale e le attività di sviluppo di Saturn sotto un'unica entità aziendale, mentre il passaggio all'Alberta si allinea con la posizione della sede centrale a Calgary e la presenza della gestione. Non è richiesta alcuna azione da parte degli azionisti esistenti e i certificati azionari rimangono inalterati da questi cambiamenti.
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF) ha completado dos importantes movimientos de reestructuración corporativa con efecto a partir de enero de 2025. En primer lugar, la empresa llevó a cabo una amalgamación vertical en forma abreviada con su filial de propiedad absoluta, Saturn Holdings SK, el 1 de enero. En segundo lugar, el 3 de enero, la empresa completó su continuidad de la jurisdicción de Saskatchewan a Alberta, que fue previamente aprobada por los accionistas con un apoyo del 94.94% en mayo de 2024.
Estas acciones corporativas tienen como objetivo simplificar las operaciones y reducir los gastos. La amalgamación consolida la base de activos y las actividades de desarrollo de Saturn bajo una única entidad corporativa, mientras que la continuidad hacia Alberta se alinea con la ubicación de la oficina central en Calgary y la presencia de gestión. No se requiere ninguna acción de los accionistas existentes y los certificados de acciones permanecen sin cambios con respecto a estas modificaciones.
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF)는 2025년 1월부터 시행되는 두 가지 중요한 기업 구조 조정을 완료하였습니다. 첫째, 회사는 1월 1일 자회사인 Saturn Holdings SK와 수직 간결 합병을 실행하였습니다. 둘째, 1월 3일, 회사는 이전에 주주들이 2024년 5월에 94.94%의 찬성으로 승인한 대로 사스커치완에서 앨버타 관할권으로의 지속성을 완료하였습니다.
이러한 기업 조치는 운영을 간소화하고 비용을 줄이는 것을 목표로 하고 있습니다. 합병은 Saturn의 자산 기초와 개발 활동을 하나의 기업체 아래로 통합하며, 앨버타로의 지속은 회사의 캘거리 본사 위치 및 경영진의 존재와 일치합니다. 기존 주주들은 별도의 조치를 취할 필요가 없으며, 주식 증서는 이러한 변경 사항에 영향을 받지 않습니다.
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF) a terminé deux importants mouvements de restructuration d'entreprise, effectifs à partir de janvier 2025. Premièrement, la société a réalisé une amalgamation verticale sous forme abrégée avec sa filiale en propriété exclusive, Saturn Holdings SK, le 1er janvier. Deuxièmement, le 3 janvier, l'entreprise a complété sa continuité de la juridiction de la Saskatchewan vers celle de l'Alberta, qui a été précédemment approuvée par les actionnaires avec un soutien de 94,94 % en mai 2024.
Ces actions corporatives visent à rationaliser les opérations et à réduire les dépenses. L'amalgamation consolide la base d'actifs et les activités de développement de Saturn sous une unique entité corporative, tandis que la continuité vers l'Alberta est en accord avec l'emplacement du siège social à Calgary et la présence de la direction. Aucune action n'est requise de la part des actionnaires existants, et les certificats d'actions restent inchangés par rapport à ces modifications.
Saturn Oil & Gas (TSX: SOIL) (OTCQX: OILSF) hat zwei bedeutende Unternehmensrestrukturierungen zum 1. Januar 2025 abgeschlossen. Zunächst führte das Unternehmen am 1. Januar eine vertikale Kurzform-Amalgamation mit seiner 100%-igen Tochtergesellschaft Saturn Holdings SK durch. Am 3. Januar vollendete das Unternehmen zudem die Fortführung von Saskatchewan nach Alberta, die zuvor im Mai 2024 mit 94,94% Zustimmung der Aktionäre genehmigt wurde.
Diese Unternehmensmaßnahmen zielen darauf ab, die Abläufe zu rationalisieren und die Kosten zu senken. Die Amalgamation konsolidiert die Vermögensbasis und die Entwicklungsaktivitäten von Saturn unter einer einzigen Unternehmenseinheit, während die Fortführung nach Alberta mit dem Standort der Hauptverwaltung in Calgary und der Präsenz des Managements übereinstimmt. Von bestehenden Aktionären sind keine Maßnahmen erforderlich, und die Aktienzertifikate bleiben von diesen Änderungen unberührt.
- Consolidation of operations under single entity reduces corporate and operational expenses
- Strong shareholder support with 94.94% approval for jurisdictional change
- Streamlined internal management functions through corporate restructuring
- None.
Calgary, Alberta--(Newsfile Corp. - January 3, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (FSE: SMKA) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, today announces that, effective January 1, 2025, the Company completed a vertical short-form amalgamation with its wholly-owned subsidiary, Saturn Holdings SK Ltd. (the "Amalgamation"). Additionally, on January 3, 2025, the Company completed a continuance out of the jurisdiction of Saskatchewan under The Business Corporations Act, 2021 (Saskatchewan) and into the jurisdiction of Alberta under the Business Corporations Act (Alberta) (the "Continuance").
At the Company's annual general and special meeting held on May 28, 2024, Saturn's shareholders approved the Continuance with
Following the Amalgamation and Continuance, no action is required by existing shareholders, nor will any certificates representing Saturn's common shares be affected. The certificates of Amalgamation and Continuance are available on the Company's SEDAR+ profile at www.sedarplus.ca.
About Saturn Oil & Gas Inc.
Saturn is a returns-driven Canadian energy company focused on the efficient and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company's portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and ESG-focused culture, Saturn's goal is to increase per share reserves, production and cash flow at an attractive return on invested capital. The Company's shares are listed for trading on the TSX under ticker 'SOIL', on the OTCQX under the ticker 'OILSF' and the Frankfurt Stock Exchange under symbol 'SMKA'. Further information and our corporate presentation are available on Saturn's website at www.saturnoil.com.
Saturn Oil & Gas Investor & Media Contacts:
John Jeffrey, MBA - Chief Executive Officer
Tel: +1 (587) 392-7900
www.saturnoil.com
Cindy Gray, MBA - VP Investor Relations
Tel: +1 (587) 392-7900
info@saturnoil.com
Forward-Looking Information and Statements:
This news release contains forward-looking information that is based on current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking information does not guarantee future performance and involves risks, uncertainties and assumptions which are difficult to predict, and which may cause Saturn's actual results in future periods to differ materially from expected results. In particular, statements about the Company's plans, intentions or potential value drivers of the Continuance and Amalgamation constitute forward-looking information. Investors are cautioned that all forward-looking information involves risks and uncertainties including, without limitation, those risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. The forward-looking statements contained in this news release are made as of the date hereof, and Saturn does not undertake any obligation to release publicly any revisions to or updating any voluntary forward-looking information, except as required by applicable securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235942
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