Gale Force Retains Advisor to assist with Review of Strategic Alternatives
-Company Seeking Buyer or Merger Patner-
DALLAS, June 14, 2013 /PRNewswire/ – Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the “Company” or “Gale Force“) today announced that it has engaged Cairn Merchant Partners as its
financial advisor in order to assist the Company in evaluating and
considering strategic alternatives with a view to enhancing shareholder
value. Strategic alternatives to be considered by the Company include,
but are not limited to, the sale of the Company or a business
“Given Gale Force’s attractive reserves base, cash-flow positive
operations, potential for growth and public listing, our Board of
Directors believes that the Company can attain greater value for
shareholders through a strategic transaction,” said Michael McLellan,
Co-Chairman and CEO. “The rationale for a strategic transaction was
most recently discussed in detail in the Company’s Management
Discussion & Analysis for the quarter ended March 31, 2013, but in
short, we believe that a strategic transaction will unlock latent value
currently going unrecognized by the market and, depending upon the
nature of the transaction, could be accretive to shareholders through
the realization of economies of scale and operational synergies.”
The Company cautions, however, that there can be no assurance that its
ongoing strategic review process will result in any transaction, or, if
a transaction is realized, as to its terms or timing.
ABOUT GALE FORCE PETROLEUM INC. - www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and
exploiting underdeveloped oil and gas reserves in mature basins,
bringing operational expertise and capital to lower-risk,
development-type projects. The Company currently owns producing oil and
gas properties in Texas, Tennessee and West Virginia.
ABOUT CAIRN MERCHANT PARTNERS - www.CairnMP.com
Cairn Merchant Partners LP is a recently formed independent M&A advisory
and merchant banking firm offering a full range of advisory services to
public and private companies. Cairn’s principals have significant
experience advising management teams and boards of public companies
through strategic alternative reviews.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release contain forward-looking
statements. All forward-looking statements are based on the Company’s
current expectations, estimates, projections, beliefs and assumptions
based on information available at the time the statement was made and
in light of the Company’s experience and its perception of historical
trends. Some of the forward-looking statements may be identified by
words like “expected”, “subject to”, “will be” and similar expressions.
In addition, all other statements that address expectations or
projections about the future, including statements about potential
future transactions, are forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve a
number of risks and uncertainties, some that are similar to other oil
and gas companies and some that are unique to the Company, and the
other risks described in the Company’s continuous disclosure filings
with securities regulators available under the Company’s profile at www.sedar.com. The Company’s actual results may differ materially from those
expressed or implied by the Company’s forward-looking statements and
you are cautioned not to place undue reliance on them. The Company does
not assume any obligation to update any forward-looking statements
contained in this press release, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE GALE FORCE PETROLEUM INC.