CALGARY,
AB, May 9, 2022 /CNW/ - Tenaz Energy Corp.
("Tenaz" and the "Company") (TSXV: TNZ) is pleased to announce that
it has received conditional approval from the Toronto Stock
Exchange (the "TSX") to list its common shares (the "Common
Shares") on such exchange. Tenaz expects the Common Shares to
commence trading under the symbol "TNZ" on the TSX on May 12, 2022 at which time trading on the TSX
Venture Exchange (the "TSXV") will cease. No action is required to
be taken by Tenaz shareholders.
Tenaz has previously communicated its intent to graduate from
the TSXV to the TSX. The Company appreciates the support it
received from the TSXV in the period since its recapitalization
transaction, which closed in October
2021. Tenaz views graduation to the TSX as a natural step in
executing the corporate strategy outlined at the time of the
recapitalization. Tenaz is actively pursuing international
investments that offer strong value at the time of acquisition and
the opportunity to improve performance after assimilation of the
new assets.
Tenaz would also like to remind shareholders to vote their
Common Shares in connection with the upcoming annual general
meeting of shareholders scheduled for May
31, 2022 at 2:30 p.m. (MST).
Instructions on how to vote and to access the webcast of the
meeting can be found in the Notice of Annual General Meeting of
Shareholders of Tenaz to be held on May 31,
2022 and the Management Information Circular dated
April 27, 2022 mailed out to
shareholders and will be available on SEDAR at www.sedar.com and on
Tenaz's website at www.tenazenergy.com.
About Tenaz Energy Corp.
Tenaz is an energy company focused on the acquisition and
sustainable development of international oil and gas assets capable
of returning free cash flow to shareholders. In addition, Tenaz
conducts development of a semi-conventional oil project in the Rex
member of the Upper Mannville group at Leduc-Woodbend in central
Alberta.
ADVISORIES
Forward-looking Information and
Statements
This press release contains certain forward-looking
information and statements within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "budget", "forecast", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should",
"believe", "plans", "intends", "strategy" and similar expressions
are intended to identify forward-looking information or statements.
In particular, but without limiting the foregoing, this press
release contains forward-looking information and statements
pertaining to the timing of the listing of the Common Shares on the
TSX and the Company's business strategy.
The forward-looking information and statements contained in
this press release reflect several material factors and
expectations and assumptions of the Company including, without
limitation: the ability of the Company to satisfy all conditions in
the TSX's conditional approval letter, the continued performance of
the Company's oil and gas properties in a manner consistent with
its past experiences; that the Company will continue to conduct its
operations in a manner consistent with past operations; the general
continuance of current industry conditions; the continuance of
existing (and in certain circumstances, the implementation of
proposed) tax, royalty and regulatory regimes; the accuracy of the
estimates of the Company's reserves and resource volumes; certain
commodity price and other cost assumptions; the continued
availability of oilfield services; and the continued availability
of adequate debt and equity financing and cash flow from operations
to fund its planned expenditures. The Company believes the material
factors, expectations and assumptions reflected in the
forward-looking information and statements are reasonable, but no
assurance can be given that these factors, expectations, and
assumptions will prove to be correct.
The forward-looking information and statements included in
this press release are not guarantees of future performance and
should not be unduly relied upon. Such information and statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking information or statements
including, without limitation: changes in commodity prices; changes
in the demand for or supply of the Company's products;
unanticipated operating results or production declines; changes in
tax or environmental laws, royalty rates or other regulatory
matters; changes in development plans of the Company or by third
party operators of the Company's properties, increased debt levels
or debt service requirements; inaccurate estimation of the
Company's oil and gas reserve and resource volumes; limited,
unfavorable or a lack of access to capital markets; increased
costs; a lack of adequate insurance coverage; the impact of
competitors; and certain other risks detailed from time to time in
the Company's public documents.
The forward-looking information and statements contained in
this press release speak only as of the date of this press release,
and the Company does not assume any obligation to publicly update
or revise them to reflect new events or circumstances, except as
may be required pursuant to applicable laws.
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.
SOURCE Tenaz Energy Corp.
