Razor Energy Corp. Announces Intention to Make a Normal Course Issuer Bid

CALGARY, Alberta, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV:RZE) (www.razor-energy.com) announces that it intends to give the TSX Venture Exchange (the “TSXV”) notice of Razor’s intention to commence a normal course issuer bid (the “NCIB”) on September 14, 2017.

The NCIB will commence only upon receipt of approval of the TSXV. The NCIB will allow Razor to purchase up to 796,861 common shares (“Common Shares”) of the Company (representing approximately 5% of the 15,937,234 outstanding Common Shares as of September 11, 2017) over a period of twelve months. If the NCIB commences on September 14, 2017, the NCIB will expire no later than September 13, 2018. Under the NCIB, Common Shares may be repurchased in open market transactions on the TSXV, or by such other means as may be permitted by the TSXV and applicable securities laws and in accordance with the rules of the TSXV governing NCIBs. The number of Common Shares the Company is permitted to purchase during any 30 day period is limited to 318,744 Common Shares, representing 2% of the total issued and outstanding Common Shares. Any Common Shares that are purchased under the NCIB will be cancelled upon their purchase by Razor.  Razor has retained Scotia Capital Inc. as its broker to conduct the NCIB on Razor’s behalf.

Razor has assembled a high quality asset base and has continually delivered superior operational results.  The Company believes that in the current environment its share price at times does not reflect the underlying value of its assets.  The NCIB will provide an additional option for the reinvestment of excess cash flow to increase long-term total shareholder returns. As with all expenditures, Razor will remain vigilant in ensuring it retains flexibility and liquidity on its balance sheet.

ABOUT RAZOR

Razor Energy Corp. is a light oil focused company operating predominantly in Alberta. Razor’s full-cycle business plan provides an opportunity to reposition the Company as a disciplined and high-growth junior E&P company. With an experienced management team and a strong, committed Board, growth is anticipated to occur through timely strategic acquisitions and operations. Razor currently trades on TSXV under the ticker “RZE”.

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READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements. More particularly, this news release contains statements concerning, but not limited to, receipt of TSXV approval of the NCIB and the timing thereof, potential NCIB purchases and the anticipated advantages of the NCIB for the Company’s shareholders. In addition, the use of any of the words “anticipate”,  “believe”, “intend”, “may”, “is”, “will” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Please refer to the risk factors identified in the annual information form and management discussion and analysis of the Company for the period ended December 31, 2016, on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.