Halifax, Canada / ACCESSWIRE / September 24, 2014 / NWest Energy Corp. (TSXV: NWN) (the "Company") announces today that, further to its announcement on September 8, 2014 of its intention to make an offer to acquire all of the outstanding common shares of Bird River Resources Inc. (CSE: BDR) ("Bird River"), the Company has not received a response to its request for the Bird River shareholder list (the "Shareholder List").
The Company dispatched its request for the Shareholder List by reputable courier on September 11, 2014 to Bird River's registered address. Concurrently, management of the Company made contact with Bird River management via telephone and advised that the request was in the process of being couriered and that PDF copies of the request would be sent via email. Later that day, the Company furnished PDF copies of the request by email to Mr. Nelson Shodine, CEO of Bird River, and the other directors of Bird River. An initial attempt to deliver the package on September 12, 2014 was unsuccessful due to the premises being closed. The courier company was advised by the receiver to hold the package for a future delivery date but the receiver failed to communicate any further delivery instructions. Further attempts at delivery were made on September 15, 2014 and September 23, 2015 but were also unsuccessful due to the premises being closed.
Mr. Kevin Aylward, the Chief Executive Officer and President of the Company, commented:
"We are disappointed by the evasive measures taken by Bird River in delaying receiving and responding to our request for the Bird River shareholder list, which should have been provided to us by September 22, 2014. Bird River management has been made well aware of our attempts to deliver the request for the shareholder list and are in receipt of electronic copies of our request. These measures, which arguably are contrary to the Manitoba Corporations Act and applicable securities laws, are nothing more than stall tactics which are preventing Bird River shareholders from evaluating a proposal aimed at generating value for Bird River and NWest on a combined basis. We implore Bird River management to immediately cease its stall tactics. We will pursue all avenues necessary to ensure that we can proceed with the previously announced proposed offer to acquire all of the issued and outstanding shares of Bird River as soon as possible. This may include lodging a formal complaint with the Manitoba Securities Commission or under the Manitoba Corporations Act if the shareholder list is not received by September 30, 2014."
As a result of the delay by Bird River, the Company will not be able to mail the offer and take-over bid circular to Bird River shareholders prior to September 30, 2014. The offer will be made as soon as reasonably practicable following the receipt of the Shareholder List. The offer will remain open for at least 35 days following the commencement of the offer.
This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any of the securities of the Company or Bird River. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada and, if applicable, the United States. Prior to making the decision to tender, investors are urged to read the offer and takeover bid circular filed with securities regulatory authorities in Canada and if applicable, the United States.
About NWest Energy Corp.
NWest Energy Corp. is a TSX Venture Exchange listed, Canadian-based resource company focused on exploration, acquisition and advancement of oil and gas properties. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made and information contained herein is "Forward-looking information" within the meaning of applicable securities laws, including statements regarding the proposed offer and take-over bid circular, terms of the offer, timing of the offer and the Company's intention to take steps to acquire the remaining Bird River shares and other Bird River securities following the take-over, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including those described in each management's discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions including, without limitation, the Company's assessment of the effect of an offer on the Company, Bird River and Bird River's shareholders; the satisfaction of any conditions to an offer; the timing and prospects for shareholder approval; regulatory restrictions; and the speculative nature of the natural resources industry. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For Further Information
Kevin Aylward, B. Comm, CEO /President, NWest Energy Corp., (902) 405-4751, [email protected]
SOURCE: NWest Energy Corp.