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Endurance Energy Ltd.- Status Updates

January 31, 2017

On January 31, 2017, the Applicant sought and obtained an order which, among other things, approved the Third Interim Distribution to the Lenders and extended the stay of proceedings against the Applicant until June 30, 2017.


December 5, 2016

On December 5, 2016, the Applicant sought and obtained an order which, among other things, approved the Second Interim Distribution to the Lenders and the expansion of the Monitor’s powers in respect of the Applicant upon the filing of the Monitor's Transition Certificate.


November 22,2016

On November 22, 2016, the Applicant sought and obtained an order which, among other things, approved the Interim Distribution to the Lenders and extended the stay of proceedings against the Applicant until January 31, 2017.


October 26, 2016

On October 26, 2016, the Applicant completed the Sale Agreements in accordance with the Approval and Vesting Order and the Monitor’s Certificate was filed with the Court on October 31, 2016.


September 27, 2016

On September 27, 2016, the Court granted an Approval and Vesting Order which, among other things, approved the BC Agreement and the Alta/Sk Agreement (collectively, the “Sale Agreements”) and authorized and directed the Applicant to take such additional steps and execute such additional documents as may be necessary for the competition of the Sale Agreements.


September 21, 2016

The Applicant and Shanghai Energy Corporation (the “BC Purchaser”) entered into an agreement of purchase and sale dated September 21, 2016 (the “BC Agreement”) and the Applicant and 1994450 Alberta Ltd. (the “Alta/Sk Purchaser”) entered into an agreement of purchase and sale dated September 21, 2016 (the “Alta/SK Agreement” and collectively with the BC Agreement, the “Sale Agreements”). The BC Purchaser and the Alta/Sk Purchaser are related entities (the “Purchaser”).


June 27, 2016

On June 27, 2016 the Applicants sought and obtained an order extending the stay of proceedings to August 5, 2016.


June 22, 2016

On June 22, 2016 the Applicants sought and obtained an order for the approval of their Interim Financing and amendment to the May Sale Process Order granted May 30, 2016.


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