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Custodians reporting holdings indicated under 1% of Bonterra’s shares have been tendered Close to 40% of Bonterra shareholders continue to advise the Company they will NOT tender their shares Second amendment to extend the offer demonstrates the continued failure of the Hostile Bid Shareholders need to take no action to REJECT the offer CALGARY, AB – Bonterra Energy Corp. ( www.bonterraenergy.com ) ( TSX: BNE ) (“Bonterra” or the “Company”) and its Board of Directors reiterates the previous recommendation that shareholders reject Obsidian Energy Ltd. ’s (“Obsidian”) highly-conditional, unsolicited bid to acquire all of the issued and outstanding common shares of Bonterra in exchange for shares of Obsidian (the “Hostile Bid”) and continues to strongly recommend that Bonterra shareholders TAKE NO ACTION and REJECT the Hostile Bid by NOT TENDERING their shares. Second Extension to Hostile Bid Made Despite Having Little to No Shareholder Support With the filing of the second Notice of Extension to the Hostile Bid, Obsidian has made no modifications other than to extend the tender date from January 25, 2021 to March 29, 2021. This extension is approximately three additional months from the original expiry of January 4, 2021, prolonging the process to a total […]
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