CALGARY, Alberta, June 02, 2020 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company“) announces that further to its press release dated April 24, 2020, Bellatrix intends to continue to rely on the relief (the “CSA Relief“) granted by the Canadian Securities Administrators for extension of the deadline for filing certain continuous disclosure documents by reporting issuers. As announced in the previous press release, Bellatrix is relying on the CSA Relief in respect of its requirements to file a statement of reserves data and other information required by section 2.1 of National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (“2019 NI 51-101 Filings“) in respect of the Company’s year ended December 31, 2019, which it still anticipates filing on or about June 13, 2020. In addition, Bellatrix intends to rely on the CSA Relief in respect of its requirements under sections 4.4 and 5.1(2) of National Instrument 51-102 â Continuous Disclosure Obligations to file its interim financial report and accompanying management’s discussion and analysis as at and for the three months ended March 31, 2020 (“2020 Q1 Filings“), which it anticipates filing on or before July 14, 2020.
Although none of the Company’s securities are currently listed for trading on any recognized stock exchange, the Company’s management and other insiders will be subject to a trading black-out until such time as the 2019 NI 51-101 Filings and 2020 Q1 Filings are completed. There are no material business developments that have not been disclosed.
As announced in the Company’s press release dated June 1, 2020, the Company completed the sale of substantially all of its assets pursuant to Bellatrixâs proceedings under the Companiesâ Creditors Arrangement Act (the âCCAAâ). As a result, the Company is in the process of winding-up its business pursuant to the CCAA proceedings and such process may impact Bellatrix’s future plans for filing its continuous disclosure documents including its 2019 NI 51-101 Filings and 2020 Q1 Filings.
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.
For further information, please contact:Bellatrix Exploration Ltd.1920, 800 â 5th Avenue SWCalgary, Alberta, Canada T2P 3T6Phone: (403) 266-8670Fax: (403) 264-8163www.bxe.com