Waterous Energy Fund Announces Successful Take-Over Bid for Osum Oil Sands Corp., Commencement of Mandatory 10-Day Tender Extension Period, and Voluntary Resignation of Osum Directors and Officers

CALGARY, ABMarch 2, 2021 /PRNewswire/ – Waterous Energy Fund (“WEF“) and its subsidiary WEF Osum Acquisition Corp. (the “Offeror“) are pleased to announce that each of the conditions to the offer dated November 4, 2020, as amended, to acquire up to 57,000,000 common shares (“Osum Shares“) of Osum Oil Sands Corp. (“Osum“) at a price of $3.00 per share (the “Offer“) have been satisfied, including the condition prescribed by applicable securities laws that more than 50% of the Osum Shares not owned by WEF be tendered to the Offer.

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Recent News

  1. Waterous Energy Fund announces the final step of its acquisition of Osum Oil Sands Corp; shareholder meeting to be held April 30, 2021 to approve the transaction

  2. Osum Board Withdraws its Recommendation that Shareholders Reject the Offer from Waterous Energy Fund

  3. Improved Offer from Waterous Energy Fund Supported by the Independent Board Members and Executive Team

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