Condor and Marsa Announce Filing of Joint Information Circular
Calgary, Alberta –– Condor Petroleum Inc. (TSX: CPI) (Condor) and Marsa Energy Inc. (TSX‐V: MEP) (Marsa) are pleased to announce that the Joint Management Information Circular (Joint Circular) and respective Form of Proxy and Letter of Transmittal have been mailed to shareholders of Condor (Condor Shareholders) and shareholders of Marsa (Marsa Shareholders) and will be filed by each of Condor and Marsa under their respective profiles and be available for viewing on the SEDAR website (www.sedar.com).
The Joint Circular provides more information on the Plan of Arrangement (the Arrangement) related to the proposed combination of Condor and Marsa previously announced on January 7, 2016. Condor Shareholders will vote on certain resolutions related to the Arrangement at the Condor shareholder meeting to be held in Calgary, Alberta at 9:00a.m. (Calgary time) on February 24, 2016 and Marsa Shareholders will vote on certain resolutions related to the Arrangement at the Marsa shareholder meeting to be held in Calgary, Alberta at 10:30 a.m. (Calgary time) on February 24, 2016. The Arrangement is expected to be completed on or about February 26, 2016 upon the satisfaction or waiver of the conditions to the Arrangement as set forth in the Arrangement Agreement entered into by Condor and Marsa on January 7, 2016.
Upon completion of the Arrangement it is expected that J. Scott Price, current Chairman of Marsa, will be appointed to the Condor board of directors (Condor Board) and Blair Anderson, the current President and Chief Executive Officer of Marsa, will join the Condor management team as Vice President of Corporate Development.