12May 2017

Ithaca Energy Inc Compulsory Shares Acquisition

Ithaca Energy Inc. Delek Takeover – Compulsory Shares Acquisition

 12 May 2017 

Ithaca Energy Inc. (TSX: IAE; LSE: IAE) (“Ithaca” or the “Company”) announces that Delek Group Ltd. (“Delek”), through its affiliate DKL Investments Limited (the “Offeror”), has notified Ithaca that it intends to carry out a compulsory acquisition of all the remaining issued and outstanding common shares of the Company that are not currently owned by the Offeror following completion of the takeover offer (the “Compulsory Acquisition”) for a cash consideration of C$1.95 per share (the “Offer”) under the Business Corporations Act (Alberta). Under the terms of the Compulsory Acquisition, and subject to the terms of the Business Corporations Act (Alberta), the holders of all the remaining common shares not currently owned by the Offeror will be entitled to receive the same consideration per share as paid under the Offer, being C$1.95 in cash per share.

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