General Announcement::Canacol Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code

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
24-Nov-2025 21:03:08
Status
New
Announcement Sub Title
Canacol Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code
Announcement Reference
SG251124OTHR10YV
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 Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code

Toronto, Ontario (November 24, 2025) Canacol Energy Ltd. (TSX: CNE) (OTCQX: CNNEF) (BVC: CNE.C) ( Canacol or the Company ), announces that the Company and certain of its subsidiaries filed for relief under Chapter 15 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. The petitions for relief seek recognition of the Company s Canadian proceeding commenced under the Companies' Creditors Arrangement Act, or CCAA, in the Court of King s Bench of Alberta as a foreign main proceeding.

Relief under Chapter 15 of the U.S. Bankruptcy Code is intended to safeguard a company s U.S.-based assets and facilitate cooperation between U.S. courts and foreign judicial proceedings. In conjunction with the petitions, the foreign representative sought provisional relief and a stay of proceedings to prevent creditor actions while it develops a plan of arrangement pursuant to the restructuring provisions of the CCAA.

At a hearing held on November 20, 2025, the U.S. Bankruptcy Court granted the provisional relief requested by the foreign representative on an unopposed basis and scheduled the hearing on the foreign representative s recognition motion for December 11, 2025, at 11:00 a.m. ET.

KPMG Inc. is serving as the authorized foreign representative in the Chapter 15 cases. The foreign representative is represented by the U.S. firm Pachulski Stang Ziehl & Jones LLP.

Attachments

24.11.2025 - Canacol Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code.pdf
Total size =157K