ORLEN Upstream Canada Ltd. (“ORLEN Upstream Canada”), a wholly owned subsidiary of PKN ORLEN S.A. (“PKN ORLEN”) (WSE: PKN), and Kicking Horse Energy Inc. (“Kicking Horse”) (TSX-V: KCK) announced today the completion of ORLEN Upstream Canada’s acquisition of all of the outstanding common shares (the “Kicking Horse Shares”) of Kicking Horse pursuant to an arrangement under the Business Corporations Act (Alberta) (the "Arrangement”).
It is expected that the Kicking Horse Shares will be de-listed from the TSX Venture Exchange effective at the close of business on December 1, 2015.
As a result of the Arrangement, Kicking Horse is a wholly-owned subsidiary of ORLEN Upstream Canada and the management and operation of Kicking Horse’s asset base will be integrated with ORLEN Upstream Canada’s existing Canadian operations headquartered in Calgary.
Further details regarding the Arrangement are set out in Kicking Horse’s Information Circular dated October 26, 2015 sent to its securityholders respecting the Arrangement, which is available under Kicking Horse’s profile on SEDAR at
www.sedar.com.