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.
