|By Marketwired .||
|January 18, 2013 09:38 PM EST||
CALGARY, ALBERTA -- (Marketwire) -- 01/19/13 -- Skope Energy Inc. (the "Company") today announced that Pine Cliff Energy Ltd. ("Pine Cliff") obtained an order on January 15, 2012 (the "Meeting Order") from the Court of Queen's Bench of Alberta (the "Court"): (a) accepting the filing of a plan of compromise and arrangement under the Companies' Creditors Arrangement Act (the "CCAA") by Pine Cliff concerning, affecting and involving Skope Energy Inc. and Skope Energy International Inc. (collectively, "Skope") (the "Plan"); (b) authorizing Skope and Pine Cliff to establish one class of unsecured creditors in the Plan for the purposes of considering and voting on the Plan; (c) authorizing and directing Skope to call, hold and conduct a meeting of certain of its creditors (the "Creditors' Meeting") to consider and vote on a resolution to approve the Plan; and (d) approving the procedures to be followed with respect to the calling and conduct of the Creditors' Meeting.
The purpose of the Plan is to restructure Skope's debt and to effect a compromise of the claims of all unsecured creditors of Skope. The Plan contemplates the compromise and arrangement of the claims of all unsecured creditors by the payment of a distribution to all unsecured creditors pursuant to the provisions of the CCAA.
The Plan proposed by Pine Cliff, in addition to restructuring Skope's unsecured claims, will result in the redemption, without compensation, of all of the outstanding shares of Skope (the "Skope Shares"). Pursuant to the Plan: (i) a new class of redeemable shares (the "Redeemable Shares") of the Company will be created; (ii) the existing Skope Shares will be converted to Redeemable Shares; (iii) a new class of voting shares (the "Class A Voting Shares") of the Company will be created; and (iv) new Class A Voting Shares will be issued to Pine Cliff or its nominee for $1.00. On the date that the Plan as proposed by Pine Cliff is implemented, the existing Skope Shares will be redeemed by the Company for no consideration and all related options, warrants and other rights to acquire Skope Shares will be cancelled, without compensation.
In order to be approved, the Plan must receive the affirmative vote of a majority in number of affected creditors with voting claims, and two-thirds in value of the voting claims held by such affected creditors, in each case who vote (in person or by proxy) on the Plan at the Creditors' Meeting. The Meeting Order provides that a notice to creditors, the Plan, form of proxy and instructions to creditors (the "Meeting Materials") relating to the Creditors' Meeting will be mailed to affected creditors on or before January 18, 2013 and that the Creditors' Meeting will be held on February 15, 2013. Holders of Skope Shares are not entitled to vote at the Creditors' Meeting, except in their capacity as creditors, if applicable. The date of which the Plan will become effective, is expected to be on or about February 20, 2013.
Further details regarding the Plan and the Meeting are available on the Monitor's website at http://cfcanada.fticonsulting.com/sfc. A copy of the Meeting Order is available on the Monitor's website at http://www.ey.com/ca/skopeenergy.
All inquiries regarding the Company's proceedings under the CCAA should be directed to the Monitor, Ernst & Young Inc., #1000, 440 - 2nd Avenue S.W., Calgary, Alberta T2P 5E9, Attention Jessica Caden, or by telephone at (403) 206-5153. Information about the CCAA proceedings, including copies of all court orders and the Monitor's reports, are available at the Monitor's website http://www.ey.com/ca/skopeenergy.
Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, statements relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to, the terms of the Plan and the expected effective date of the Plan under the Companies' Creditors Arrangement Act.
All such forward-looking information is based on certain assumptions and analyses made by us in light of our current experience and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may be impacted by other factors, many of which are beyond our control.
Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived there from. Except as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
The forward-looking information contained in this release is expressly qualified by this cautionary statement.
Attention Jessica Caden
Ernst & Young Inc.
#1000, 440 - 2nd Avenue S.W.
Calgary, Alberta T2P 5E9
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 30, 2016 02:30 PM EDT Reads: 940
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 30, 2016 02:30 PM EDT Reads: 1,017
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Aug. 30, 2016 02:00 PM EDT Reads: 3,740
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Aug. 30, 2016 01:45 PM EDT Reads: 622
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 30, 2016 01:30 PM EDT Reads: 856
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Aug. 30, 2016 01:20 PM EDT Reads: 182
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 30, 2016 01:15 PM EDT Reads: 2,058
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 30, 2016 01:00 PM EDT Reads: 3,224
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 30, 2016 11:45 AM EDT Reads: 792
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Aug. 30, 2016 10:30 AM EDT Reads: 401
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 30, 2016 09:45 AM EDT Reads: 1,070
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 30, 2016 09:45 AM EDT Reads: 884
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Aug. 30, 2016 09:08 AM EDT Reads: 278
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 30, 2016 08:45 AM EDT Reads: 916
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 30, 2016 05:45 AM EDT Reads: 2,483