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Bellatrix Announces Completion of Sale Transaction with Spartan


View All News Releases June 1, 2020

CALGARY, Alberta, June 01, 2020 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces the closing of its sale transaction (the “Transaction”) previously announced on April 23, 2020 and approved by the Court of Queen’s Bench of Alberta on May 8, 2020 in Bellatrix’s proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”).

Pursuant to the Transaction, Return Energy Inc. (renamed Spartan Delta Corp.), through its wholly-owned subsidiary, Winslow Resources Inc. (the “Purchaser”), has acquired substantially all of Bellatrix’s assets relating to its oil and gas business, with the exception of the Company’s working capital and certain other excluded assets. In addition, the Purchaser has assumed a number of liabilities of Bellatrix relating to its joint ventures and other agreements, and environmental obligations relating to the purchased assets.  

Materials publicly filed in the CCAA proceedings are made available on the website of PricewaterhouseCoopers Inc., the Court-appointed monitor in the CCAA proceedings, at http://www.pwc.com/ca/bellatrix.

CONTACT: For further information, please contact:
Bellatrix Exploration Ltd.
1920, 800 – 5th Avenue SW
Calgary, Alberta, Canada T2P 3T6
Phone: (403) 266-8670
Fax: (403) 264-8163
www.bxe.com

Bellatrix Exploration Ltd.
1920, 800 5th Avenue SW
Calgary, Alberta T2P 3T6
Main: 403-266-8670
Fax: 403-264-8163
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Bellatrix Exploration
Investor Relations
investor.relations@bxe.com
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