CENO ENERGY LTD. ("CUX")
[formerly Sundance Energy Corporation ("SNY")]
BULLETIN TYPE: Reverse Takeover-Completed, Private Placement-Non-Brokered, Name Change, Company Tier Reclassification, Resume Trading
BULLETIN DATE: June 20, 2014
TSX Venture Tier 2 Company
The common shares of Sundance Energy Corporation's (the "Company" or "Sundance") have been halted from trading at the Company's request since June 19, 2014, pending news.
1. Reverse Takeover-Completed:
The TSX Venture Exchange has accepted for filing Sundance's Reverse Takeover ('RTO'), which includes the following:
The RTO consists of the arm's length business combination between Sundance and Ceno Energy Ltd. ("Ceno") (the "Amalgamation") pursuant to an Amalgamation Agreement dated May 12, 2014. A total of 25,000,000 shares at a deemed price of $0.46 per share were issued to former Ceno shareholders for an aggregate deemed consideration of $11,500,000.
For further information on the RTO, please refer to Sundance's information circular dated May 15, 2014 available on SEDAR.
The Exchange has been advised that the above transaction, approved by shareholders on June 13, 2014, has been completed.
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Zhouliang (Nick) Zhang Y 1,576,800
Jeffrey Standen Y 149,247
Robert Gillies Y 1,282
Feng Jin Y 641,120
Fang Chen Y 1,141,887
Hai Zhou Y 22,358,878
2. Private Placement-Non-Brokered:
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on May 16, 2014:
Number of Shares: 21,717,758 shares
Purchase Price: $0.46 per share
Number of Placees: 1 placee
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Weiyi Investment Ltd. (Hai Zhou) Y 21,717,758
Finder's Fee: $500,000 cash payable to Yilong Wu
3. Name Change:
Pursuant to a resolution passed by shareholders on June 13, 2014, the Company has changed its name to Ceno Energy Ltd. There is no consolidation of capital.
Effective at the opening on Monday, June 23, 2014, the common shares of Ceno Energy Ltd. will commence trading on TSX Venture Exchange, and the common shares of Sundance Energy Corporation will be delisted. The Company is classified as an ''Oil and Gas" company.
Capitalization: Unlimited shares with no par value of which
50,000,000 shares are issued and outstanding
Escrow: 25,869,214 shares
4,650,000 options
Escrow term: 18 months
Transfer Agent: Olympic Trust Company
Trading Symbol: CUX (new)
CUSIP Number: 15137B 10 9 (new)
4. Company Tier Classification:
In accordance with Policy 2.5, the Company has met the requirements for a Tier 1 company. Therefore, effective Monday, June 23, 2014, the Company's Tier classification will change from Tier 2 to:
Classification
Tier 1
Company Contact: Jeffrey Standen, President & Corporate Secretary
Company Address: Suite 500, 940 - 6th Avenue S.W.
Calgary, AB T2P 3T1
Company Phone Number: 403-699-9668
Company Fax Number: 403-699-9660
Company Email Address: info@cenoenergy.ca
Effective at the open, Monday, June 23, 2014, trading in the shares of the Company will resume.
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