Offer") to purchase all of the issued and outstanding common shares (the "
Bonterra
Bonterra") until 5:00 p.m. (Mountain Daylight Time) on Monday, March 29, 2021.
"Obsidian Energy is uniquely positioned to be a true 'Cardium Champion', and we have heard from many Bonterra stakeholders who are supportive of our Offer and industry consolidation. Unfortunately, Bonterra's entrenched founder/CEO/Chairman, George Fink, and his fellow Bonterra Board members have continued to seek to discredit Obsidian Energy and our Offer through misinformation, fearmongering and questionable trading activities", said Stephen Loukas, Interim President and CEO. "Through to the end of our now extended Offer period, we will continue to lay out the facts and benefits of our Offer to ensure that Bonterra's shareholders are in a position to make a fully informed decision. We will keep the focus on the advantages of the Offer and the significant share price appreciation that we are confident would result from the successful completion of our Offer, and we will ensure that Bonterra's shareholders understand what the Bonterra Board has done and permitted to try and mask the Offer's true value."