/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY,
Aug. 22, 2014 /CNW/ - Palliser
Oil & Gas Corporation ("Palliser") (TSXV:PXL) announces
that the Investment Industry Regulatory Organization of
Canada has halted trading of
Palliser's common shares.
The halt was initiated upon the request of the
TSX Venture Exchange ("TSXV") after the TSXV determination
to treat the proposed amalgamation of Palliser with Maha Energy
Inc. (the "Amalgamation") as a "reverse takeover" as such
term is defined in the TSXV Policies requiring additional filings
and information dissemination by Palliser. The halt is expected to
remain in place pending dissemination of additional information on
the Amalgamation as well as receipt and review by TSXV of requisite
documentation in accordance with section 3.4 of TSXV Policy 5.2.
It is expected that the requisite additional information will
be provided in Palliser's news release together with Palliser's Q2
results, planned to be disseminated after the close of business on
Tuesday, August 26, 2014.
Palliser is not aware of any material
developments with respect to the Amalgamation.
ABOUT PALLISER
Palliser is a Calgary-based junior oil and gas company
focused on high netback heavy oil production in the greater
Lloydminster area of Alberta and Saskatchewan.
Disclaimers
Forward Looking Statements
Certain information contained in this document
constitutes forward-looking statements. Forward-looking information
typically contains statements with words such as "expect",
"propose" or similar words suggesting future outcomes or statements
regarding an outlook. By their nature, forward-looking statements
are subject to numerous risks and uncertainties, some of which are
beyond Palliser's control, particularly that the risk that actual
events will vary from the events forecasted and such variations may
be material. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
Actual events could differ materially from those expressed in or
implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what benefits Palliser will derive therefrom.
The forward-looking statements contained in this
document are made as of the date hereof. Palliser disclaims any
intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Additionally, Palliser undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of
the matters discussed above.
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 RELEASE.
SOURCE Palliser Oil & Gas Corporation