/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF
UNITED STATES SECURITIES
LAW./
CALGARY, Nov. 21, 2017
/CNW/ - Return Energy Inc. ("Return" or the
"Company") (TSX-V: "RTN") announces that it has extended the
expiry date (the "Extension") of 16,700,399 common share
purchase warrants (the "Warrants") originally issued by the
Company under the private placement of the Company (the "Private
Placement") that closed on March 13,
2017. The Company has extended the expiry date of the
Warrants to October 20, 2018, from
their original expiry date of March 10,
2018.
Certain of the Warrants are held by parties who are considered
to be "related parties" of the Company (such warrants, the
"Related Party Warrants"). Therefore, the amendment of the
Related Party Warrants constitutes a "related party transaction" as
contemplated by Multilateral Instrument 61-101 Protection of
Minority Shareholders in Special Transactions, and TSX Venture
Exchange Policy 5.9 - Protection of Minority Shareholders in
Special Transactions. However, the exemptions from formal valuation
and minority approval requirements provided for by these guidelines
can be relied upon because neither the fair market value of the
Related Party Warrants nor the fair market value of the
consideration paid for the Related Party Warrants exceeds 25% of
the market capitalization of the Company. A material change report
in respect of this related party transaction will be filed by the
Company.
Holders of Warrants will not receive an amended Warrant
certificate, and will be required to submit their original Warrant
certificate in order to exercise Warrants.
For further information
This news release is reproduced on Return's website at
www.returnenergyinc.com. For this and further information about
Return please visit the website or contact Ken Tompson (President & CEO) at
403-265-8011 ext. 224.
Neither the 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 Return Energy Inc