General Announcement::Canacol Obtains Court Approval of Sale and Investment Solicitation Process

Issuer & Securities

Issuer/ Manager
CANACOL ENERGY LTD.
Securities
CANACOLENE US$500M5.75%281124A - US134808AD63 - PNTB
CANACOLENE US$500M5.75%281124R - USU13518AC64 - YW0B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Feb-2026 05:02:36
Status
New
Announcement Sub Title
Canacol Obtains Court Approval of Sale and Investment Solicitation Process
Announcement Reference
SG260228OTHRFL4L
Submitted By (Co./ Ind. Name)
Canacol Energy Ltd.
Designation
SGX-SE
Description (Please provide a detailed description of the event in the box below)
Canacol Obtains Court Approval of Sale and Investment Solicitation Process

Calgary, Alberta (February 27, 2026) ( Canacol or the Company ) announces that the Court of King s Bench of Alberta (the Canadian Court ) has approved the Company s sale and investment solicitation process ( SISP ) authorizing the Company, with the assistance and oversight of the Sale Advisor (as defined below) and KPMG Inc. in its capacity as court-appointed Monitor (the Monitor ), to implement the SISP in accordance with the approved procedures.
The Court also approved the engagement of Moelis & Company LLC (the Sale Advisor ) as the Company s exclusive financial advisor and investment banker in connection with the SISP. The Sale Advisor will assist the Company in the solicitation and diligence process contemplated by the SISP in consultation with the Company, the Monitor and, where required, certain other stakeholders described in the SISP.
In addition, the Company announces that, on February 26, 2026, the Colombian Superintendency of Companies (Superintendencia de Sociedades) recognized the SISP-related orders issued by the Canadian Court. This recognition affirms that the SISP are appropriate under applicable Colombian law and supports the coordinated administration of the cross-border restructuring process, including the protection of the Company s assets in Colombia.
Any acceptable acquisition or investment offer resulting from the SISP will require prior approval by the Canadian Court, which order will be subject to recognition and review by the Colombian Superintendency of Companies.
Interested parties are invited to review the SISP procedures posted on the Monitor s website (https://kpmg.com/ca/canacol) to understand how to participate in the SISP, and to contact the Sale Advisor for further information.
In order to participate in the SISP and obtain access to a virtual data room, all interested parties must comply with the terms and conditions set forth in the SISP, including entering into a non-disclosure agreement, a copy of which may be obtained from the Sale Advisor.
Pursuant to the SISP, interested parties must, among other things and subject to the SISP:
submit a non-binding letter of intent by 5:00 PM (Mountain Daylight Time) on March 9, 2026 identifying such bidder s interest in Canacol s property or business and that meets the requirements for a Qualified LOI as set out in the SISP; and
submit a formal binding offer by 5:00 PM (Mountain Daylight Time) on April 6, 2026 that meets the requirements as set out in the SISP. The qualified bid criteria under the terms of the SISP include, among other things, that bids:
provide a purchase price or consideration that constitutes an Acceptable Transaction as set out in the SISP;
do not contain any board or equity holder contingent approval, financing or due diligence conditions; and
are accompanied by a 10% cash deposit.
The Monitor s website will also host ongoing materials and updates relating to the Company s restructuring proceedings; investors and other stakeholders should continue to monitor that site for important information.

Attachments

27.02.2026 - Canacol Obtains Court Approval for Sale And Investment Solicitation Process.pdf
Total size =195K