Kiwetinohk Shareholders Approve Arrangement

Executive Summary

• Shareholders approved a court‑sanctioned arrangement under which Cygnet Energy Ltd. will acquire all outstanding common shares of Kiwetinohk, except for 6,060,606 “Rollover Shares.”
• The acquisition price is $24.75 per share in cash; the Rollover Shares will be exchanged for equity in Cygnet Energy.
• The transaction is expected to close on December 18 2025, subject to final court approval, after which Kiwetinohk’s shares will be delisted from the Toronto Stock Exchange.

Key Details

• Approval Thresholds:
• 99.94% of votes cast by all shareholders approved the Arrangement.
• 99.74% of votes cast (excluding Rollover Shareholders and other excluded parties) approved the Arrangement.
• Cash Consideration: $24.75 per share for all shares not part of the rollover group.
• Rollover Shares: 6,060,606 shares held by funds managed by ARC Financial Corp. will be exchanged for shares in Cygnet Energy pursuant to a separate Share Transfer Agreement.
• Court Process: Arrangement is subject to approval by the Court of King’s Bench of Alberta; anticipated hearing date for the Final Order is December 17 2025.
• Closing Conditions: Completion contingent upon (i) issuance of the Final Order, (ii) satisfaction or waiver of all conditions set out in the arrangement agreement dated October 27 2025, and (iii) payment of cash consideration by Cygnet Energy.
• Post‑Closing Effects:
• Shares will be delisted from the Toronto Stock Exchange immediately after closing.
• Kiwetinohk’s assets (natural gas, NGLs, oil, condensate in Montney and Duvernay formations) will become part of Cygnet Energy’s portfolio.
• Management Sign‑off: Press release signed by Pat Carlson, CEO, and Jakub Brogowski, CFO.

Notable Quotes

(No direct quotes were provided in the release.)