Criterium Energy Announces Termination of the Marketed Public Offering and Resulting Impact on the Previously Announced Mont D'Or Petroleum Limited Acquisition
Criterium Energy Announces Termination of the Marketed Public Offering and Resulting Impact on the Previously Announced Mont D'Or Petroleum Limited Acquisition
Calgary, Alberta--(Newsfile Corp. - August 30, 2023) - Criterium Energy Ltd. (TSXV: CEQ) ("Criterium" or the "Company"), an independent upstream energy development and production company focused in Southeast Asia, announces the termination of the previously announced marketed public offering (the "Offering")'.
加拿大阿爾伯塔省卡爾加裡-(Newsfile Corp.-2023年8月30日)-專注於東南亞地區的獨立上游能源開發和生產公司Criterium Energy Ltd.(多倫多證券交易所股票代碼：CEQ)(以下簡稱“Criterium”或“公司”)宣佈終止此前宣佈的上市公開募股(“招股”)。
After extensive deliberation and in response to current market dynamics, Criterium has decided to terminate the previously announced Offering. The Offering and the related acquisition (the "Acquisition") of Mont D'Or Petroleum Limited ("MOPL") were originally announced on June 15, 2023, and updated on July 4, 2023. As a result, no securities of the Company will be issued pursuant to the Offering.
經過廣泛深思熟慮和對當前市場動態的回應，Criterium決定終止之前宣佈的發行。Mont D‘Or Petroleum Limited(“MOPL”)的發售及相關收購(“收購”)最初於2023年6月15日宣佈，並於2023年7月4日更新。因此，本公司不會因是次發售而發行任何證券。
The decision not to proceed with the Offering reflects the Company's dedication to maximizing value for its shareholders while ensuring that any transaction aligns with the Company's strategic objectives. Further, the value of Criterium's existing assets is not reflected in the context of the current market, preventing any accretive equity financing and Criterium considers the current form and proposed pricing of the Offering and the Acquisition to not be in the best interest of the Company and its shareholders.
不繼續進行此次發行的決定反映了該公司致力於為其股東實現價值最大化，同時確保任何交易都符合公司的戰略目標。此外，Criterium現有資產的價值沒有反映在當前市場的背景下，這阻礙了任何增值性股權融資，Criterium認為發行和收購的當前形式和建議定價不符合公司及其股東的最佳利益。
As a result of the Company's decision not to proceed with the Offering, Criterium will be unable to proceed with the Acquisition on the terms and conditions currently contemplated in the definitive agreement. The Company intends to initiate discussions with the MOPL shareholders and stakeholders to align the Acquisition terms to be accretive to Criterium's valuation in the context of the current market conditions. Should these discussions result in acceptable terms, the Company may announce revised financing terms and conditions, otherwise it will consider alternative acquisition opportunities.
由於公司決定不繼續進行此次發售，Criterium將無法按照目前在最終協定中設想的條款和條件進行收購。該公司打算啟動與MOPL股東和利益相關者的討論，以使收購條款在當前市場條件下提高Criterium的估值。如果這些討論的結果是可接受的條款，公司可能會宣佈修訂的融資條款和條件，否則它將考慮其他收購機會。
"We value our founding Criterium investors and their trust in us. We are aligned with all shareholders as our management team, board, business associates and insiders have invested collectively more than $5.4MM in our inaugural founding round. We are actively engaged in continuing discussions with MOPL shareholders and stakeholders to explore various solutions to complete the Acquisition to the mutual benefit of all parties. If we are unable to reach such terms, we will strongly consider alternative acquisition opportunities," affirmed Robin Auld, President, and Chief Executive Officer of Criterium Energy. "Our goal is to ensure that our investors realize the best possible value from any transaction while at the same time allowing us to execute our strategic objectives on which we were founded."
Criterium Energy首席執行官羅賓·奧爾德、總裁表示：“我們重視我們的創始投資者及其對我們的信任。我們與所有股東保持一致，因為我們的管理團隊、董事會、商業夥伴和內部人士在我們的首輪創始階段總共投資了超過540萬美元。我們正在積極參與與MOPL股東和利益相關者的持續討論，以探索各種解決方案，以完成對各方的互惠互利。如果我們無法達成這樣的條款，我們將積極考慮替代收購機會，”Criterium Energy首席執行官羅賓·奧爾德、總裁肯定地說。我們的目標是確保我們的投資者從任何交易中實現可能的最佳價值，同時允許我們執行我們成立時所依據的戰略目標。“
About Criterium Energy Ltd.
關於Criterium Energy Ltd.
Criterium Energy Ltd. is an upstream energy company focused on the acquisition and sustainable development of assets in Southeast Asia that can deliver scalable growth and cash generation. The Company focuses on maximizing total shareholder return by executing on three strategic pillars, namely (1) successful and sustainable reputation, (2) innovation and technology arbitrage, and (3) operational and safety excellence.
Criterium Energy Ltd.是一家上游能源公司，專注於在東南亞收購和可持續發展能夠實現可擴展增長和產生現金的資產。該公司專注於通過執行三大戰略支柱來實現股東總回報的最大化，即(1)成功和可持續的聲譽，(2)創新和技術套利，(3)卓越的運營和安全。
For further information please visit our website (), call 403-668-1630 or email info@criteriumenergy.com.
欲瞭解更多資訊，請訪問我們的網站()，致電403-668-1630或發送電子郵件至info@criteriumenergy.com。
Forward-looking statements:
前瞻性陳述：
This press release contains forward‐looking statements and forward‐looking information (collectively "forward‐looking information") within the meaning of applicable securities laws relating to, inter alia, the Company's plans, strategy, business, focus, objectives and other aspects of Criterium's anticipated future ability to renegotiate the Acquisition on terms more favourable to the Company and its shareholders, the ability of Criterium to finance the Acquisition on favourable terms, the ability of Criterium to source, negotiate and complete additional or alternative transactions and other matters ancillary or incidental to the foregoing, and the Company's belief that the decision not to proceed with the Offering will maximize shareholder value.
本新聞稿包含符合適用證券法的前瞻性陳述和前瞻性資訊(統稱為“前瞻性資訊”)，除其他外、公司的計劃、戰略、業務、重點、目標和預期未來Criterium的其他方面；Criterium以對公司及其股東更有利的條款重新談判收購的能力；Criterium以有利的條款為收購融資的能力；Criterium尋找、談判和完成額外或替代交易的能力以及前述附帶或附帶的其他事項；以及公司相信不進行發售的決定將使股東價值最大化。
Forward‐looking information typically uses words such as "anticipate", "believe", "project", "target", "guidance", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward‐looking information is based on certain key expectations and assumptions made by Criterium's management, including expectations concerning prevailing commodity prices, exchange rates, acquisitions and divestitures, interest rates, the state of the economy and the exploration and production business; effects of inflation and other cost escalations results of operations; performance; business prospects and opportunities; the availability and cost of financing, labor and services; the impact of increasing competition; the impact of inflation on costs and expenses, and Criterium's ability to access capital.
前瞻性資訊通常使用諸如“預期”、“相信”、“專案”、“目標”、“指導”、“預期”、“目標”、“計劃”、“打算”等詞語，或暗示未來結果的類似詞語，即行動、事件或條件“可能”、“將”、“可能”或“將”在未來採取或發生的陳述。前瞻性資訊基於Criterium管理層做出的某些重要預期和假設，包括對當前大宗商品價格、匯率、收購和資產剝離、利率、經濟狀況以及勘探和生產業務的預期；通貨膨脹和其他成本上升的影響；經營業績；業務前景和機會；融資、勞動力和服務的可獲得性和成本；競爭加劇的影響；通貨膨脹對成本和支出的影響；以及Criterium獲得資本的能力。
Although the Company believes that the expectations and assumptions on which such forward‐looking information is based are reasonable, undue reliance should not be placed on the forward‐looking information because Criterium can give no assurance that they will prove to be correct. Since forward‐looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward‐looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward‐looking information will transpire or occur, or if any of them do so, what benefits that the Company will derive there from. Management of the Company has included the above summary of assumptions and risks related to forward‐looking information provided in this press release in order to provide its shareholders and stakeholders with a more complete perspective on Criterium's future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect Criterium's operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (). The forward-looking information contained herein is made as of the date of this press release and Criterium disclaims any intent or obligation to update publicly any forward‐looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
儘管公司認為這些前瞻性資訊所基於的預期和假設是合理的，但不應過分依賴前瞻性資訊，因為Criterium不能保證它們將被證明是正確的。由於前瞻性資訊涉及未來的事件和情況，它們本身就包含固有的風險和不確定因素。公司的實際結果、業績或成就可能與前瞻性資訊中明示或暗示的結果大不相同，因此，不能保證前瞻性資訊預期的任何事件會發生或發生，或者如果發生了，公司將從中獲得什麼好處。公司管理層已將上述與本新聞稿中提供的前瞻性資訊相關的假設和風險摘要包括在內，以便為其股東和利益相關者提供對Criterium未來運營的更全面的視角，這些資訊可能不適合用於其他目的。提醒讀者，前面列出的因素並不是詳盡的。有關這些和其他可能影響Criterium運營或財務結果的因素的更多資訊包括在提交給相關證券監管機構的報告中，並可通過SEDAR網站()獲取。本文中包含的前瞻性資訊是截至本新聞稿發佈之日的，Criterium沒有任何公開更新任何前瞻性資訊的意圖或義務，無論是作為新資訊、未來事件或結果的結果還是其他原因，除非適用的證券法要求。
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
多倫多證券交易所創業板交易所公司既沒有批准也沒有反對本新聞稿的內容。
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
本新聞稿不應構成出售要約或徵求購買證券的要約，也不應在任何州或其他司法管轄區的任何證券銷售中，在根據任何此類州或其他司法管轄區的證券法進行登記或獲得資格之前，此類要約、徵求或出售將是非法的。
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