CALGARY, ALBERTA -- (Marketwire) -- 03/28/13 -- Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE: DEI) announces that further to its previously announced agreement to sell the Company's interest in its Simonette and Resthaven oil and gas properties to Cequence Energy Ltd. ("Cequence") for consideration consisting of 10.3 million common shares of Cequence ("Cequence Shares") and Cequence's interest in its Fir oil and gas property, by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"), the proposed record date for the pro rata distribution of Cequence Shares to holders ("Donnybrook Shareholders") of common shares of Donnybrook ("Donnybrook Shares"), by way of a return of capital under the Arrangement, is April 12, 2013. The distribution is currently scheduled to be made on April 15, 2013.
Pursuant to the TSX Venture Exchange's ("TSXV") Due Bill trading procedures, trades of Donnybrook Shares entered into from and including April 10, 2013 until April 15, 2013 (the anticipated effective date of the Arrangement and distribution payment date) will have a Due Bill attached which will allow the purchaser of Donnybrook Shares to receive the applicable distribution of Cequence Shares instead of the seller of Donnybrook Shares, even if such trades are settled after the proposed April 12, 2013 distribution record date. Thus, any trades that are executed during the Due Bill process will be automatically flagged to ensure that purchasers receive the entitlement and sellers do not.
Ex-distribution trading of the Donnybrook Shares will commence at the opening of the TSXV on April 16, 2013. Investors who enter into trades to purchase Donnybrook Shares on or after the ex-distribution date of April 16, 2013 will not be entitled to the distribution. The Due Bills will be redeemed on April 18, 2013 once all trades with attached Due Bills entered into up to April 15, 2013 have settled.
Further information regarding Due Bills and Due Bill trading is included in Donnybrook's information circular and proxy statement dated March 15, 2013 that has now been mailed to Donnybrook Shareholders (also available at www.sedar.com). The anticipated dates provided may change for a number of reasons, including inability to secure necessary shareholder, regulatory, court or other third party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the dates provided herein.
Further information relating to Donnybrook is also available on its website at www.donnybrookenergy.ca.
ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC.
Malcolm F. W. Todd, Chief Executive Officer
This press release contains forward-looking statements or information ("forward-looking statements") within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements concerning the anticipated timing of the pro rata distribution of Cequence Shares to Donnybrook Shareholders as a return of capital as part of the Arrangement.
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