Iron Bridge Offer
Message from Ken Woolner
President and Chief Executive Officer of Velvet Energy
Dear Iron Bridge shareholder:
I, on behalf of Velvet Energy Ltd. and Iron Bridge Resources Inc., am pleased to announce that Iron Bridge shareholders, representing 126.9 million common shares outstanding or 81.98%, have tendered to Velvet’s amended $0.845 per share all cash offer to purchase all of the issued and outstanding common shares of Iron Bridge.
Velvet has taken-up and will pay for these shares and is extending the offer to October 5, 2018 to allow remaining shareholders to tender to the offer.
On take-up, Velvet will have a controlling interest in Iron Bridge and intends to immediately proceed with a second stage transaction to acquire the remaining shares. Given Velvet’s controlling interest, the outcome of the second stage is assured.
We are very pleased to see the resounding support for our amended offer for Iron Bridge common shares. We encourage shareholders that have not yet tendered to do so during this extended window to receive your cash consideration as expeditiously as possible.
If you have any questions or require assistance, please contact Kingsdale Advisors, our Depositary and Information Agent, by telephone toll-free at 1-866-879-7650 with North America and at 1-416-867-2272 outside of North America or by e-mail at firstname.lastname@example.org.
Please refer to the Offer made by Velvet Energy Inc. and the accompanying Take-Over Bid Circular, each dated May 29, 2018, for further information.