Tamarack Valley Energy Ltd. and Sure Energy Inc. have entered into an agreement (the "Arrangement Agreement") whereby Tamarack will acquire all of the issued and outstanding shares of Sure Energy (the "Transaction").

Pursuant to the Transaction, Sure Energy shareholders shall receive 0.1050 of a Tamarack common share (a "Tamarack Share") for each Sure Energy common share (a "Sure Energy Share") held. In aggregate, Tamarack will issue 6,360,966 Tamarack Shares to existing Sure Energy shareholders and assume net debt, as at July 31, 2013, of $32.0 million for total consideration of $50.3 million, based on the Offering price and including Sure Energy transaction costs of $2.5 million.

The Transaction will be effected by way of a plan of arrangement ("Plan of Arrangement") under the Business Corporations Act (Alberta).

The board of directors of Sure Energy have unanimously approved the Transaction and Shareholders representing 37.9% of the issued and outstanding Sure Energy Shares, including the management and board of directors of Sure Energy, have entered into agreements with Tamarack pursuant to which they have agreed to vote their shares in favour of the Transaction.

Tags: Sure Energy Inc., Tamarack Valley Energy Ltd.