CALGARY, ALBERTA–(Marketwired – June 29, 2017) – Razor Energy Corp. (“Razor” or the “Company”) (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce that it has been approved for graduation to Tier 1 Issuer status from Tier 2 Issuer status by the TSX Venture Exchange (the “TSXV”).
With the graduation to a Tier 1 listing, the common shares of Razor (“Common Shares”) previously deposited into escrow pursuant to the rules of the TSXV will now be governed by the release provisions of Tier 1 Issuer escrow. As such, an aggregate of 1,330,953 Common Shares will be immediately releasable from escrow and the aggregate of 6,775,865 Common Shares that will remain in escrow will be released as follows: 2,258,557 Common Shares will be releasable from escrow on August 10, 2017; 2,258,612 Common Shares will be releasable from escrow on February 10, 2018; and the remaining 2,258,696 Common Shares will be releasable from escrow on August 10, 2018.
ABOUT RAZOR
Razor Energy Corp., is a light oil focused company operating predominantly in Alberta. Razor’s full-cycle business plan provides an opportunity to reposition the Company as a disciplined and high-growth junior E&P company. With an experienced management team and a strong, committed Board, growth is anticipated to occur through timely strategic acquisitions and operations. Razor currently trades on TSX Venture Exchange under the ticker “RZE”.
READER ADVISORIES
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements. More particularly, this press release contains statements concerning, but not limited to, the release of escrowed Common Shares. In addition, the use of any of the words “anticipate”, “will” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Please refer to the risk factors identified in the annual information form and management discussion and analysis of the Company for the period ended December 31, 2016, on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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 news release.
Doug Bailey
President and Chief Executive Officer
(403) 262-0242
Kevin Braun
Chief Financial Officer
(403) 262-0242
www.razor-energy.com
