/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES./
CALGARY, Aug. 25, 2015 /CNW/ - SilverWillow Energy
Corporation (TSXV: SWE)
("SilverWillow"), announces the completion of the
previously announced amalgamation of SilverWillow and 9341102
Canada Inc. ("AcquireCo"), a wholly-owned subsidiary of
Value Creation Inc. ("Value Creation"), under
the Canada Business Corporations Act (the
"Amalgamation"). As a result of the Amalgamation, and in
accordance with the acquisition agreement dated July 2, 2015 among SilverWillow, AcquireCo and
Value Creation, former holders ("SilverWillow Shareholders")
of common shares in the capital of SilverWillow ("SilverWillow
Shares") are entitled to receive cash consideration of
C$0.03 per SilverWillow Share.
Full particulars of the Amalgamation are described in the
management information circular dated July
14, 2015 mailed to the SilverWillow Shareholders. The
information circular and letter of transmittal, both of which are
available under SilverWillow's profile on the System for Electronic
Document Analysis and Retrieval (SEDAR) website
at www.sedar.com, contain instructions for SilverWillow
Shareholders on how to receive the consideration payable to them in
connection with the Amalgamation.
SilverWillow Shareholders should consult their own tax
advisors with respect to the income tax consequences to them of the
Amalgamation.
The SilverWillow Shares are expected to be delisted from and no
longer traded on the TSX Venture Exchange as soon as possible, in
accordance with the rules and policies of the exchange.
SilverWillow is also expected to apply to cease to be a reporting
issuer in all of the provinces of Canada, subject to the satisfaction of
applicable regulatory requirements.
About SilverWillow
SilverWillow Energy is a Calgary,
Alberta-based pre-production oil sands company with a
portfolio of exploration leases in Canada's Athabasca oil sands. To learn more, please
visit www.swenergy.ca.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this news release.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Cautionary Statements Regarding Forward-Looking
Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws. Forward-looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. The forward-looking information
in this news release relates, but is not limited to: the delisting
of SilverWillow Shares from the TSX Venture Exchange and
SilverWillow ceasing to be a reporting issuer in all of the
provinces of Canada.
Forward-looking information is subject to known and unknown
risks and uncertainties and other factors which may cause actual
results, events and achievements to differ materially from those
expressed or implied in such forward-looking information.
Additional risks relating to the business and operations of
SilverWillow are set forth in SilverWillow's most recent
Management's Discussion and Analysis, which are filed under the
Corporation's profile on SEDAR at www.sedar.com.
SilverWillow undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change except as required by law. The reader is
cautioned not to place undue reliance on forward looking
information.
SOURCE SilverWillow Energy Corporation