Dundee Energy Ltd. To Explore A Potential Sale Of Oil And Gas Assets In Ontario

Dundee Energy Limited (“Dundee Energy” or the “Corporation”) (TSX: DEN) today announced that it has commenced a sale solicitation process for the sale of its oil and gas assets in Ontario which are managed by Dundee Energy Limited Partnership (“DELP” or the “Company”) (a wholly owned entity of the Corporation).

On August 16, 2017, with the authorization and approval of its board of directors (the “Board”), the Company commenced insolvency proceedings by filing a Notice of Intention to Make a Proposal (“NOI”) pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada) (“BIA”). FTI Consulting Canada Inc. has been appointed as the trustee under the NOI (the “Proposal Trustee”). The principal purpose of the NOI filing is to create a stabilized environment for the Company and the Proposal Trustee to run a court-supervised sale solicitation process (“SSP”) with the goal of identifying one or more parties interested in submitting proposals to purchase some or all of the business, properties and/or assets of the Company (collectively the “Business”) and to implement one or a combination of those proposals to purchase some or all of the Business.

The Company obtained an order from the Ontario Superior Court of Justice (the “Court”) approving the terms of the SSP. The Company’s objective is to complete the SSP by the first half of December 2017.

Anyone interested in obtaining more information about the SSP should contact Dundee’s Proposal Trustee, FTI Consulting Canada Inc., as follows:

Richard Kim
FTI Consulting Canada Inc.
Tel: (416) 649-8079
Email: Richard.Kim@fticonsulting.com

Jordan Zakkai
FTI Consulting Canada Inc.
Tel: (416) 649-8116
Email: Jordan.Zakkai@fticonsulting.com

Court materials and other information about the proposal proceedings will be available on the Proposal Trustee’s website at http://cfcanada.fticonsulting.com/Dundee/.

There can be no assurance that the Company will be successful in its efforts under the SSP or that the Court will approve the SSP or any competing bid that may emerge from the SSP.

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