CALGARY, ALBERTA / ACCESSWIRE / December 16, 2014 /Maple Leaf 2011 Energy Income Limited Partnership ("Maple Leaf 2011 LP") is pleased to report that it has completed the previously announced disposition of royalty interests in 14 oil and gas wells located in west central Alberta (the "Royalties") to Maple Leaf Royalties Corp. (MPL: TSXV) ("Maple Leaf"). Please refer to Maple Leaf's news release of November 20, 2014 for additional information regarding the transaction and the Royalties. The transaction remains subject to the final acceptance of the TSX Venture Exchange.
This transaction constitutes the liquidity event of Maple Leaf 2011 LP. The Maple Leaf shares will be distributed to investors and Maple Leaf 2011 LP will be wound-up within the next 60 days. Please note that it may take up to 90 days (back office administration) for the Maple Leaf 2011 LP units to be cancelled and removed from client accounts and for the Maple Leaf shares to be deposited. The sale of Maple Leaf 2011 LP assets followed a comprehensive open market bidding process conducted with the assistance of an arm's length firm specializing in oil and gas asset divestiture.
Investors will receive a total of 81.25925 Maple Leaf shares for each Maple Leaf 2011 LP unit held.
The Maple Leaf shares will be subject to certain resale restrictions with one-third being released from resale restrictions on each of the four, eight and twelve month anniversaries of the closing date of the transaction. Holders of the Maple Leaf shares will receive any cash distributions paid during the resale restriction period.
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.
FOR FURTHER INFORMATION
Please contact Shane Doyle, President
Email: [email protected] | Web: www.mapleleaffunds.ca
SOURCE: Maple Leaf 2011 Energy Income Limited Partnership