Crew Energy Announces $130 Million Non-Core Asset Disposition and Partial Redemption of Outstanding 6.500% Senior Unsecured Notes Due 2024 - Seite 2

Advisors   

TD Securities Inc. acted as financial advisor to Crew in respect of the Disposition and TD Securities Inc. and National Bank Financial acted as co-financial advisors to Crew in respect of the partial redemption of 2024 Notes.

_________________________________________

¹ Reflects "gross" reserves assigned by the Company's independent reserves evaluator, Sproule Associates Limited, in their evaluation made effective December 31, 2021 (the “Sproule Report”) prepared in accordance with the definitions and provisions contained in the COGE Handbook. Complete details of the Sproule Report are contained within Crew’s most recent Annual Information Form filed on SEDAR.
² Capital management measure that does not have any standardized meaning as prescribed by International Financial Reporting Standards, and therefore, may not be comparable with the calculations of similar measures for other entities. See “Advisories - Non-IFRS and Other Financial Measures” contained within our most recently filed MD&A, available on SEDAR at www.sedar.com.
³ Non-IFRS financial measure or ratio that does not have any standardized meaning as prescribed by International Financial Reporting Standards, and therefore, may not be comparable with calculations of similar measures or ratios for other entities. See “Advisories - Non-IFRS and Other Financial Measures” contained within our most recently filed MD&A, available on SEDAR at www.sedar.com.

ADVISORIES

Forward-Looking Information and Statements

This news release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" "forecast" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: Crew's belief that the proceeds from the Disposition will further contribute to its financial flexibility and form the basis for development of an updated strategic plan that builds on the momentum realized over the past 24 months; the anticipated timing and completion of the partial redemption of the Redeemed Notes as described herein; the anticipated impact of the completion of the Disposition and partial redemption of the Redeemed Notes on the Corporation's balance sheet and long term sustainability; and the Company's plans to continue to assess options to refinance the remaining balance of the 2024 Notes in advance of the March 2024 maturity date.