Pine Cliff Energy Ltd. Announces Closing of Certus Acquisition

December 13, 2023

Calgary, Alberta--(Newsfile Corp. - December 13, 2023) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") is pleased to announce that it has completed the acquisition of Certus Oil & Gas Inc. ("Certus"), as previously described in the Pine Cliff press release dated October 31, 2023.

Pine Cliff announced on December 8, 2023 that the minimum tender condition under applicable Canadian securities laws and all other conditions to the offer (the "Offer") to acquire all of the common shares ("Common Shares") of Certus had been satisfied, and that the Offer had been extended until 5:00 pm (Calgary time) on December 18, 2023 to allow shareholders who had not tendered their Common Shares to the Offer an opportunity to do so (the "Mandatory Extension Period"). Odyssey Trust Company has now confirmed that as of 5:00 pm (Calgary time) on December 8, 2023, being the initial expiry time of the Offer, 99.77% of the Common Shares issued and outstanding had been validly deposited and have been taken-up by Pine Cliff. It is expected that by the completion of the Mandatory Extension Period, 100% of the Common Shares issued and outstanding will be validly deposited and taken-up by Pine Cliff under the Offer. All Common Shares taken-up by Pine Cliff have been paid for pursuant to applicable Canadian securities laws.

The Company concurrently entered into a three-year secured term debt facility provided by a private institutional investor in the amount of $56.27 million to fund a portion of the purchase price. Pine Cliff expects to issue annual guidance in the first quarter of 2024.

About Pine Cliff

Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on www.sedarplus.com as well as on Pine Cliff's website at www.pinecliffenergy.com.

Cautionary Statements

This news release contains forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws. The use of any of the words "forecast", "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "on track", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions is intended to identify forward-looking information. More particularly and without limitation, this news release contains forward-looking information concerning Pine Cliff's plans and other aspects of its anticipated future operations, management focus, objectives, strategies, financial, and business opportunities, including the completion of the Offer. The forward-looking information is based on certain key expectations and assumptions made by Pine Cliff, including expectations and assumptions concerning the successful completion of the Offer and the benefits to be derived therefrom.

All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived therefrom. Except as required bylaw, Pine Cliff disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Pine Cliff, or its operations or financial results, are included in the Pine Cliff's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca) or Pine Cliff's website (www.pinecliffenergy.com).

The forward-looking information contained in this news release is made as of the date hereof and Pine Cliff undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws.

For further information, please contact:

Philip B. Hodge - President and CEO
Alan MacDonald - CFO and Corporate Secretary
Kristopher B. Zack - Vice President, Finance

Telephone: (403) 269-2289
Fax: (403) 265-7488
Email: info@pinecliffenergy.com

The TSX does not accept responsibility for the accuracy of this release.

Previous Post
No Previous Post
Next
No Next Post
Pine Cliff Energy Ltd. Declares Monthly Dividend for November 29, 2024 and Provides Third Quarter 2024 Webcast Details
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for October 31, 2024
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for September 27, 2024
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2024 Results and Guidance Update
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for August 30, 2024 and Provides Second Quarter 2024 Webcast Details
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for July 31, 2024
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for June 28, 2024
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2024 Results and Information Regarding the Annual Meeting of Shareholders
Read More
Pine Cliff Energy Ltd. Announces Appointment of Officers, Declares Monthly Dividend for May 31, 2024 and First Quarter 2024 Webcast Details
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for April 30, 2024
Read More
Pine Cliff Energy Ltd. Announces 2023 Annual Results, Filing of Disclosure Documents, Year-End Reserves, Provides 2024 Guidance, Dividend Declaration and Executive Update
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for February 29, 2024
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for January 31, 2024
Read More
Pine Cliff Energy Ltd. Announces Closing of Certus Acquisition
Read More
Pine Cliff Energy Ltd. Announces Completion of the Offer and Mandatory Extension Period to December 18, 2023
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for December 29, 2023
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2023 Results and Mailing of Takeover Bid Circular
Read More
Pine Cliff Energy Ltd. Announces Strategic Acquisition, New Term Debt Facility and Monthly Dividend
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for October 31, 2023
Read More
Pine Cliff Energy Ltd. Declares Monthly Dividend for September 29, 2023 and Appoints New Officer
Read More
Pine Cliff Energy Ltd. Announces Appointment of New Director
Read More
Pine Cliff Energy Ltd. Issues Correction to News Release
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2023 Results, Operational Update, Update to 2023 Guidance and Declaration of Monthly Dividend
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for July 31, 2023
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for June 30, 2023
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, Annual Stock Option Grant and New Chairman of the Board
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2022 Results, Increase in December Monthly Dividend, Update to 2022 Guidance and Operational Update
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for April 28, 2023
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for March 31, 2023
Read More
Pine Cliff Energy Ltd. Announces Record Annual Results, Filing of 2022 Disclosure Documents, 2022 Year-End Reserves, and Provides 2023 Guidance
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for February 28, 2023
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for January 31, 2023
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for December 30, 2022
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2023 Results, Confirmation of Monthly Dividend, Operational Update and Information Regarding the Annual Meeting of Shareholders
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for November 30, 2022
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for October 31, 2022
Read More
Pine Cliff Energy Ltd. Confirms Monthly Dividend for September 30, 2022
Read More
Pine Cliff Energy Ltd. Announces Appointment of New Director
Read More
Pine Cliff Energy Ltd. Announces Record Quarterly Results, 20% Increase in Monthly Dividend, Increase in 2022 Guidance and Operational Update
Read More
Pine Cliff Energy Ltd. Announces Debt Free Status and Confirms Monthly Dividend for July 29, 2022
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders’ Meeting and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Record Quarterly Results, Declaration of Monthly Dividend, Debt Repayment and Operational Update
Read More
Pine Cliff Energy Ltd. Announces 2021 Year-End Reserves and Provides Operations Update and 2022 Guidance
Read More
Pine Cliff Energy Ltd. Announces Record Annual Results and Filing of 2021 Disclosure Documents
Read More
Pine Cliff Energy Ltd. Provides Operations Update and Announces 2020 Year-End Reserves and 2021 Guidance
Read More
Pine Cliff Energy Ltd. Announces Annual 2020 Results and Filing of 2020 Disclosure Documents
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Annual 2020 Results and Filing of 2020 Disclosure Documents
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2021 Results
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2021 Results, Partial Repayment of Term Debt and Update on Drilling Program
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2021 Results and Update to 2021 Guidance
Read More
Pine Cliff Energy Ltd. Announces Strategic Acquisition, Update on Fourth Quarter Drilling Program and New Demand Loan Facility
Read More
Pine Cliff Energy Ltd. Announces 2019 Year-End Reserves and 2020 Guidance
Read More
Pine Cliff Energy Ltd. Announces Annual 2019 Results and Filing of 2019 Disclosure Documents
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2020 Results and Annual General Meeting Update
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, Election of New Director and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2020 Results and Insider Loan Facility
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2020 Results
Read More
Pine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves
Read More
Pine Cliff Energy Ltd. Announces Annual 2018 Results, Filing of 2018 Disclosure Documents and Operations Update on Pekisko Oil
Read More
Pine Cliff Energy Ltd. Announces Strategic Acquisition, CDE Flow-Through and Common Share Financings and Increased 2019 Capital
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2019 Results
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2019 Results
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2019 Results
Read More
Pine Cliff Energy Ltd. Announces 2018 Guidance, Commodity Risk Management and 2017 Year-End Reserves
Read More
Pine Cliff Energy Ltd. Announces Annual 2017 Results and Filing of 2017 Disclosure Documents
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2018 Results
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders’ Meeting and Annual Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2018 Results
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2018 Results and Updates Guidance
Read More
Pine Cliff Energy Ltd. Announces 2017 Guidance, 2016 Bank Debt Reduction and Year-End Reserves
Read More
Pine Cliff Energy Ltd. Announces Record Revenue and Funds Flow, Fourth Quarter and Annual 2016 Results
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2017 Results
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting and Stock Option Grant
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2017 Results
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2017 Results and Management Appointment
Read More
Pine Cliff Energy Ltd. Announces More Than 120% Increase in 2015 Year-End Reserves
Read More
Pine Cliff Energy Ltd. Announces its Fourth Quarter and Annual 2015 Results
Read More
Pine Cliff Energy Ltd. Announces its First Quarter 2016 Results
Read More
Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting
Read More
Pine Cliff Energy Ltd. Announces the Conclusion of the Borrowing Base Redetermination, Closing of a Private Placement and Second
Read More
Pine Cliff Energy Ltd. Announces Record Revenue and Third Quarter 2016 Results
Read More
Pine Cliff Energy Ltd. Announces 2014 Year-End Reserves
Read More
Pine Cliff Energy Ltd. Announces Fourth Quarter and Annual 2014 Results
Read More
Pine Cliff Energy Ltd. Enters Into a $15.94 Million Agreement to Acquire Core Area Assets
Read More
Pine Cliff Energy Ltd. Announces Its First Quarter 2015 Results
Read More
Pine Cliff Completes Acquisition of Core Area Assets and Provides Credit Facility Update
Read More
Pine Cliff Energy Ltd. Announces Its Second Quarter 2015 Results
Read More
Pine Cliff Energy Ltd. Announces Its Third Quarter 2015 Results and Provides Management Update
Read More
Pine Cliff Energy Ltd. Announces 2013 Year-End Reserves and Executive Appointment
Read More
Pine Cliff Energy Ltd. Announces Second Quarter 2014 Results
Read More
Pine Cliff Energy Ltd. Announces First Quarter 2014 Results
Read More
Pine Cliff Completes Acquisition of Alberta and Southern Saskatchewan Natural Gas Assets
Read More
Pine Cliff Energy Ltd. Announces Third Quarter 2014 Results
Read More
Pine Cliff Energy Ltd. Announces Extension of Insider Loan Facility, Changes to Board of Directors and Provides Information
Read More
Pine Cliff Energy Ltd. Announces Closing of Private Company Acquisition
Read More
Pine Cliff Energy Ltd. Provides Operational Update
Read More