2015 News

May 1, 2015


CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has successfully completed the previously announced acquisition of Beaumont Energy Inc. ("Beaumont") pursuant to a plan of arrangement (the "Acquisition") under the provisions of the Business Corporations Act (Alberta). Whitecap acquired all of the issued and outstanding common shares of Beaumont for consideration consisting of approximately $7.3 million in cash and 36.3 million common shares of Whitecap ("Whitecap Shares") and also assumed Beaumont's debt.  

The cash portion of the consideration and the assumption of Beaumont's debt was partially funded through a bought deal public financing (the "Offering") through a syndicate of underwriters led by National Bank Financial Inc. and including GMP Securities L.P., TD Securities Inc., CIBC World Markets Inc., Peters & Co. Limited, RBC Dominion Securities Inc., Scotia Capital Inc., FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., BMO Nesbitt Burns Inc., and Dundee Securities Ltd. which closed on April 9, 2015. Pursuant to the Offering, Whitecap issued 8,149,000 subscription receipts at a price of $13.50 per subscription receipt for gross proceeds of approximately $110 million. In accordance with their terms, each subscription receipt was exchanged for one Whitecap Share upon the closing of the Acquisition and the proceeds from the sale of the subscription receipts were released from escrow. Holders of subscription receipts are not required to take any action in order to receive the Whitecap Shares to which they are entitled. Holders of the subscription receipts shall receive an amount equal to the dividend declared on the Whitecap Shares of $0.0625 per subscription receipt. This amount will be paid on May 15, 2015 to the holders of subscription receipts of record on April 30, 2015.

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Sustainable Growth Within Funds Flow

Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders.

We are focused on providing sustainable dividends and profitable per share growth enhanced by value added acquisitions.

Whitecap's common shares are traded on the Toronto Stock Exchange under the symbol WCP.

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