CALGARY, ALBERTA--(BUSINESS WIRE)-- Seven Generations Energy Ltd.'s (TSX:VII) tender offer was accepted by holders representing US$224,340,000 aggregate principal amount of 7G's 8.250% senior unsecured notes due 2020 (the "Notes"). The previously announced cash tender offer to purchase any and all of the outstanding principal amount of the Notes expired at 5:00 p.m., EDT, on September 29, 2017 (the "Expiration Time"). Seven Generations intends to accept for payment all Notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for such Notes on October 2, 2017.
Pursuant to the terms of the tender offer, Notes not tendered in the tender offer will remain outstanding. Seven Generations previously delivered a conditional redemption notice, dated September 25, 2017, for any and all outstanding Notes pursuant to the terms of the indenture governing the Notes, as amended and supplemented and all remaining outstanding Notes following completion of the tender offer will be redeemed (subject to the terms thereof) on October 25, 2017.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
As of the Expiration Time, US$224,340,000 aggregate principal amount of the Notes were validly tendered and not validly withdrawn, which excludes US$331,000 aggregate principal amount of the Notes that remain subject to guaranteed delivery procedures.
Seven Generations Energy
Seven Generations is a low-supply-cost, high-growth Canadian energy developer generating long-life value from its liquids-rich Kakwa River Project, located about 100 kilometres south of its operations headquarters in Grande Prairie, Alberta. 7G's corporate headquarters are in Calgary and its shares trade on the TSX under the symbol VII.
Further information on Seven Generations is available on 7G's website: www.7genergy.com .
This news release contains certain forward-looking information and statements that involve various risks, uncertainties and other factors. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "should", "believe", "plans", and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the terms and timing of the settlement of the tender offer and the redemption of any Notes that are not tendered under the tender offer.
Readers are cautioned against unduly relying on forward-looking statements which, by their nature, involve numerous assumptions, risks and uncertainties that may cause such statements not to occur, or results to differ materially from those expressed or implied. Risks and uncertainties that may affect these business outcomes include: the risk that the current offering of 5.375% senior unsecured notes due 2025 is not completed when scheduled or at all; the risk of a downgrade in 7G's credit ratings and the potential impact on 7G's access to capital markets and other sources of liquidity; fluctuations in currency and interest rates; changes in or interpretation of laws or regulations; and other risks and uncertainties impacting 7G's business as are described in 7G's Annual Information Form for the year ended December 31, 2016, dated March 7, 2017, which is available on SEDAR at www.sedar.com.
The forward-looking statements contained in this news release speak only as of the date hereof, and 7G does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.
Seven Generations Energy Ltd. is referred to herein as "Seven Generations", "Seven Generations Energy" and "7G".
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