On February 20, 2018, the Court of Queen’s Bench of Alberta granted an Order pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (“BIA”) and section 13(2) of the Judicature Act, R.S.A. 2000, cJ-2 , whereby Alvarez & Marsal Canada Inc. (“A&M”) was appointed receiver and manager of Manitok Energy Inc. (“Manitok”) and Raimount Energy Corp.
On January 10, 2018, Manitok and Raimount filed Notices of Intention to File a Proposal (“NOI”) pursuant to Part III, Division I of the BIA. On January 19, 2018, an additional subsidiary of Manitok known as Corinthian Oil Corp. (“Corinthian”) filed an NOI. On February 20, 2018, an Order from the Court was granted terminating the NOI proceedings for each of the three debtor companies. A&M was substituted as the trustee in bankruptcy of Manitok, Raimount and Corinthian in the bankruptcy proceedings under estate numbers 25-2332583, 25-2332610 and 25-2335351, respectively.
For information pertaining to the Receivership and Bankruptcy proceedings, please visit www.alvarezandmarsal.com/manitok.
LATEST PRESS RELEASES
Stay current on Manitok's activities through our press releases.
Manitok Energy Inc. Announces Financial Results For The Third Quarter of 2017Wednesday, November 29, 2017
Calgary, Alberta Manitok Energy Inc. announces its financial and operating results for the third quarter of 2017. The full text of Manitok's third quarter results are contained in its unaudited and unreviewed condensed interim consolidated financial statements as at and for the three and nine months ended September 30, 2017 and the related management's discussion and analysis, copies of which are available electronically on Manitok's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and also on Manitok's website at www.manitokenergy.com.
Manitok Energy Inc. Updates on the Acquisition of Questfire Energy Inc.'s AssetsFriday, November 17, 2017
Manitok Energy Inc. provides the following update related to its transaction with Questfire Energy Corp. and various other corporate matters it is pursuing. As announced by Questfire on November 16, 2017, Questfire's lenders are seeking a court order to place Questfire in receivership. As a result, Manitok's previously announced plan of arrangement transaction with Questfire is terminated.
Manitok Energy Inc. Updates the Status of Corporate ActivitiesWednesday, November 08, 2017
As announced October 31, 2017, Manitok Energy Inc. and Questfire Energy Corp. have entered into an amending agreement amending the Arrangement Agreement dated July 5, 2017, as amended effective September 15, 2017, between Manitok and Questfire to extend the outside date for completion of the previously announced plan of arrangement among Manitok, Questfire and shareholders of Questfire to November 30, 2017. To progress the Arrangement to closing, Manitok continues to work on several options to obtain the capital required to complete the Arrangement, and commence its capital program to continue its production growth, especially considering the recent improvement in commodity prices. Manitok has progressed two alternatives, involving debt alone and equity combined with debt, to the later stages of completion. Both options are at the final stages of due diligence and if due diligence is completed successfully, would require about 14 days to finalize negotiations and the definitive agreements.
Manitok Energy Inc. and Questfire Energy Corp. Announce an Extension to the Outside Date to Complete the ArrangementTuesday, October 31, 2017
Manitok Energy Inc. and Questfire Energy Corp. are pleased to announce that they have entered into an amending agreement amending the Arrangement Agreement dated July 5, 2017, as amended effective September 15, 2017 between Manitok and Questfire to extend the outside date for completion of the previously announced plan of arrangement among Manitok, Questfire and shareholders of Questfire to November 30, 2017. Both companies continue to diligently work towards closing the Arrangement.
Manitok Energy Inc. And Questfire Energy Corp. Provide Updated Information On The Proposed Plan Of ArrangementFriday, October 06, 2017
Manitok Energy Inc. and Questfire Energy Corp. are pleased to provide additional information to its press release dated July 5, 2017 where Manitok and Questfire had announced that they had entered into a definitive agreement providing for the acquisition by Manitok of all the issued and outstanding common shares of Questfire pursuant to a plan of arrangement under the Business Corporations Act (Alberta) Manitok and Questfire are continuing to progress the transaction towards an anticipated closing on or before October 31, 2017.
Manitok Energy Inc. Acquires Corinthian Oil Corp.Wednesday, September 20, 2017
Manitok Energy Inc. is pleased to announce that it has completed its previously announced three-cornered amalgamation pursuant to an amalgamation agreement dated effective September 12, 2017 among the Corporation, Corinthian Oil Corp. and 2065718 Alberta Inc. a wholly owned subsidiary of Manitok.