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Strathcona Sources Ltd. (“Strathcona”) right this moment introduced that the Courtroom of King’s Bench of Alberta issued a closing order approving the beforehand introduced plan of association pursuant to Part 193 of the Enterprise Companies Act (Alberta), beneath which Strathcona will make a particular distribution of $10.00 per share, or roughly $2.142 billion in mixture, to its shareholders (the “Particular Distribution”). The Particular Distribution additionally acquired shareholder approval yesterday at a particular assembly to think about the Particular Distribution.
Timeline/Subsequent Steps
- The Particular Distribution is anticipated to be effected on December 22, 2025.
- Shareholders could elect to obtain the Particular Distribution as a return of capital by following the procedures set out in Strathcona’s administration data round dated October 28, 2025 (the “Round“) and associated supplies, which can be found beneath Strathcona’s profile on SEDAR+ or beneath the “Traders” part of Strathcona’s web site www.strathconaresources.com. Any such election is optionally available and no election or different motion is required to be taken by a shareholder to obtain the Particular Distribution as a dividend, except such shareholder is a registered shareholder whose frequent shares are represented by certificates(s). The election deadline is 5:00 p.m. (Calgary time) on December 16, 2025.
- Helpful shareholders will obtain cost from their middleman (often a financial institution, belief firm, securities dealer or different monetary establishment) on or after December 22, 2025, relying on such middleman’s procedures. Odyssey Belief Firm will ship cost to every registered shareholder as quickly as practicable after December 22, 2025.
- Upon completion of the Particular Distribution, Strathcona’s frequent shares might be assigned new CUSIP and ISIN numbers. Widespread shares will proceed to commerce beneath the prevailing CUSIP and ISIN numbers (862952108/CA8629521086) till the shut of enterprise on December 22, 2025, representing the entitlement of holders of such frequent shares to the Particular Distribution. All Strathcona frequent shares will commerce beneath new CUSIP and ISIN numbers (862952207/CA8629522076), representing no entitlement of holders of such frequent shares to the Particular Distribution, commencing on the open of markets on December 23, 2025.
- Following the transaction, Odyssey Belief Firm will replace the CUSIP and ISIN numbers for book-entry accounts of registered shareholders’ whose frequent shares are represented by DRS assertion(s) with none additional motion by such registered shareholder and can present such registered shareholder with an up to date DRS assertion(s) as quickly as practicable after December 22, 2025. Registered shareholders whose frequent shares are represented by a number of certificates, ought to confer with the Round for directions on additional actions required to be taken to obtain the Particular Distribution and the brand new CUSIP and ISIN numbers.
- The accounts of helpful shareholders might be adjusted by their middleman to mirror the brand new CUSIP and ISIN numbers. Helpful shareholders ought to contact their middleman if they’ve questions concerning this course of.
Shareholders are inspired to seek the advice of their brokers and monetary advisors concerning the particular penalties of buying and selling frequent shares between December 16, 2025 and December 22, 2025 (inclusive).
Shareholders who’ve any questions on how you can full, execute and submit the election kind could contact Odyssey Belief Firm at 1-888-290-1175 (inside North America) or 1-587-885-0960 (outdoors North America) or corp.actions@odysseytrust.com. Shareholders ought to seek the advice of their very own tax advisors as as to whether an election to obtain the Particular Distribution as a return of capital is suitable or fascinating of their specific circumstances.
About Strathcona
Strathcona is considered one of North America’s quickest rising pure play heavy oil producers with operations targeted on thermal oil and enhanced oil restoration. Strathcona is constructed on an revolutionary strategy to progress achieved via the consolidation and growth of long-life belongings. Strathcona’s frequent shares (image SCR) are listed on the Toronto Inventory Change (TSX).
For extra details about Strathcona, go to www.strathconaresources.com.
Web site addresses are offered for informational functions solely and no data contained on, or accessible from, such web sites is integrated by reference on this information launch except expressly integrated by reference.
Ahead-Trying Info
This information launch incorporates sure “forward-looking data” inside the that means of relevant Canadian securities legal guidelines and are potential in nature. Ahead-looking data will not be based mostly on historic details, however reasonably on present expectations and projections about future occasions, and is subsequently topic to dangers and uncertainties that might trigger precise outcomes to vary materially from the long run outcomes expressed or implied by the forward-looking data. Typically, however not at all times, forward-looking data could be recognized by means of forward-looking phrases reminiscent of “believes”, “plans”, “expects”, “intends” and “anticipates”, or variations of such phrases, and phrases or statements that sure actions, occasions or outcomes “could”, “may”, “ought to”, “would”, “would possibly” or “will” be taken, happen or be achieved. Ahead-looking data contained on this information launch embrace statements concerning the anticipated efficient date for the Particular Distribution and the buying and selling of Strathcona frequent shares previous to and following such efficient date.
Though Strathcona believes that the expectations mirrored by the forward-looking data introduced on this information launch are cheap, the forward-looking data relies on assumptions and components regarding future occasions that will show to be inaccurate. These assumptions and components are based mostly on data at the moment obtainable to Strathcona about itself and the enterprise by which it operates. Info utilized in growing forward-looking data has been acquired from varied sources, together with third occasion consultants, suppliers and regulators, amongst others. The fabric assumptions used to develop the forward-looking data herein embrace, however are usually not restricted to: the power of Strathcona to file articles of modification with the Alberta Registry to impact the Particular Distribution; and assumptions concerning the governmental, regulatory and authorized atmosphere. Though Strathcona believes that the assumptions made and the expectations represented by such data are cheap, there could be no assurance that the forward-looking data herein will show to be correct.
The forward-looking data included on this information launch will not be a assure of future efficiency. As a result of precise outcomes or outcomes may differ materially from these expressed in any forward-looking data, readers shouldn’t place undue reliance on any such forward-looking data. By its nature, forward-looking data relies on assumptions and includes recognized and unknown dangers, uncertainties and different components that will trigger precise outcomes, efficiency or achievements to be materially totally different from future outcomes, efficiency or achievements expressed or implied by such forward-looking data. Elements that might trigger precise occasions to vary materially from these contemplated or implied by the forward-looking data on this information launch embrace, however are usually not restricted to, an outage or shutdown of the Alberta Registry; failure to finish the Particular Distribution on time or in any respect and the opposite dangers described in Strathcona’s annual data kind for the 12 months ended December 31, 2024 and different paperwork filed by Strathcona with the relevant Canadian securities regulatory authorities (obtainable beneath Strathcona’s profile on SEDAR+ at www.sedarplus.ca).
The foregoing dangers shouldn’t be construed as exhaustive. The forward-looking data contained on this information launch is offered as of the date hereof and Strathcona doesn’t undertake any obligation to publicly replace or to revise any of the forward-looking data included herein to mirror new circumstances or occasions, besides as required by relevant securities legal guidelines. The forward-looking data contained on this information launch is expressly certified by this cautionary assertion.
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SOURCE Strathcona Sources Ltd.
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