Bowood Energy Inc. reports that its Board of Directors has determined to evaluate a range of strategic alternatives aimed at enhancing shareholder value. In addition, Bowood has engaged GMP Securities L.P. (GMP) to advise the Board of Directors with respect thereto.
Strategic alternatives may include, among other alternatives: a sale of the shares of the Company, either in one transaction or in a combination of transactions; a merger, recapitalization, arrangement, amalgamation or any combination thereof; or a sale of a material portion of the assets of the Company.
The Company cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is undertaken, as to its terms or timing. The Company has not set a definitive schedule to complete its evaluation and does not intend to disclose developments with respect to this process unless and until the evaluation has been completed or a definitive agreement has been reached, unless otherwise determined or required by law.