Twin Butte gets court approval for sale, investment solicitation

By Marisa Wong

Morgantown, W.Va., Oct. 12 – Twin Butte Energy Ltd. announced that the Alberta Court of Queen’s Bench approved on Tuesday a process permitting receiver FTI Consulting Canada Inc. to proceed with a sale and investment solicitation process for Twin Butte.

The court also appointed Peters & Co. Ltd. and CIBC World Markets Inc. as selling agents, according to a press release.

The receiver and selling agents are seeking offers to purchase, restructure or recapitalize Twin Butte.

Non-binding phase I bids or restructuring proposals will be due at 2 p.m. ET on Nov. 17, and binding phase II bids or restructuring proposals will be due at 2 p.m. ET on Dec. 15.

The company said that parties interested in participating may contact the receiver or selling agents by phone or e-mail or consult FTI’s website for further details: http://cfcanada.fticonsulting.com/TwinButte/.

Twin Butte is an oil and gas company based in Calgary, Alta.

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