CALGARY, ALBERTA--(December 2, 2013) - Tallgrass Energy Corp. (the "Company") (TSX VENTURE: TLC) announces that the independent directors, Mr. Jonathan Lexier and Mr. Jim Screaton have resigned as Directors of the Company on November 28th, 2013.
Requests by the Company for access to financial information necessary for completion of the Company's quarterly financial statements from the receiver, Grant Thornton Limited, have not been granted and, as such, the financial statements of the Company for the third quarter ending September 30, 2013 were unable to be completed in accordance with regulatory requirements.
In addition, a proposal by the Company to both secured and unsecured creditors of the Company has been rejected.
Grant Thornton Limited acting as receiver and manager over the property and assets of the Company can be contacted with respect to any questions concerning the assets and liabilities of the Company and is in charge of managing the day to day affairs during the period of its appointment. More information on the receivership is available on the Receiver's website at http://www.grantthornton.ca/services/reorg/creditor_updates#T.
Mr. McAdam will remain in place to assess possible financing options to discharge the receiver and provide further funding to the Company.
John McAdam, BSc., P.Eng, ICD.D
President, CEO and Director
Tallgrass Energy Corp.
Calgary, Alberta
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.
This News Release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.