VANCOUVER, BC / ACCESSWIRE / January 30, 2015 / Maple Leaf 2012 Energy Income Limited Partnership ("Maple Leaf 2012 LP") is pleased to report that it has completed the previously announced disposition of royalty interests in nine oil and gas wells located in Alberta (the "Royalties") to Maple Leaf Royalties Corp. (TSXV: MPL) ("Maple Leaf"). Please refer to Maple Leaf 2012 LP's news release of January 23, 2015 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 2012 LP. The Maple Leaf shares (the "Shares") will be distributed to investors and Maple Leaf 2012 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 2012 LP units to be cancelled and removed from client accounts and for the Maple Leaf shares to be deposited.
The sale of Maple Leaf 2012 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 115.05450 Shares for each Maple Leaf 2012 LP unit held. The Shares will be transferred to investors on a tax-deferred basis with capital gains tax being payable when the Shares are sold.
The Shares will be subject to certain resale restrictions with one-third being released from resale restrictions on each of the four (May 31, 2015), eight (September 30, 2015) and twelve month (January 30, 2016) anniversaries of the closing date of the transaction, which is January 30, 2015. Holders of the 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
MAPLE LEAF 2012 ENERGY INCOME LIMITED PARTNERSHIP
Email: [email protected]
Web: www.mapleleaffunds.ca
SOURCE: Maple Leaf 2012 Energy Income Limited Partnership