Canacol Obtains Court Approval of Sale and Investment Solicitation Process

Core Viewpoint - Canacol Energy Ltd. is undergoing a sale and investment solicitation process (SISP) approved by the Court of King's Bench of Alberta, with the aim of restructuring and potentially selling its assets [1][3]. Group 1: SISP Approval and Process - The Canadian Court has authorized Canacol to implement the SISP with the assistance of KPMG Inc. as the court-appointed Monitor [1]. - Moelis & Company LLC has been engaged as the exclusive financial advisor to assist in the SISP, including the solicitation and diligence process [2]. - The Colombian Superintendency of Companies has recognized the SISP-related orders from the Canadian Court, affirming their appropriateness under Colombian law [3]. Group 2: Participation and Requirements - Any acquisition or investment offer resulting from the SISP must receive prior approval from the Canadian Court, which will also be subject to recognition by the Colombian Superintendency of Companies [4]. - Interested parties must comply with specific terms to participate in the SISP, including entering a non-disclosure agreement and submitting a non-binding letter of intent by March 9, 2026, followed by a formal binding offer by April 6, 2026 [7]. - Bids must meet criteria outlined in the SISP, including providing an acceptable purchase price and being accompanied by a 10% cash deposit [7]. Group 3: Company Overview - Canacol Energy Ltd. is primarily focused on natural gas exploration and production, with operational activities based in Colombia [6].