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 review by the Colombian Superintendency of Companies [4]. - Interested parties must comply with the SISP terms, including entering a non-disclosure agreement to access a virtual data room [5]. - Bidders are required to submit a non-binding letter of intent by March 9, 2026, and a formal binding offer by April 6, 2026, meeting specific criteria outlined in the SISP [8].