Whitecap Resources Inc. Announces Satisfaction of Conditions to the Completion of the Takeover Bid for the Common Shares of Forge Petroleum Corporation

CALGARY, Sept. 30, 2014 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that 43,155,087 common shares of Forge Petroleum Corporation ("Forge Shares"), representing over 99% of the issued and outstanding Forge Shares, have been validly tendered pursuant to Whitecap's offer to purchase (the "Offer") all of the issued and outstanding Forge Shares.  Whitecap has directed the depositary, Olympia Trust Company (the "Depositary"), to take up and pay for all of the Forge Shares deposited under the Offer on October 1, 2014.  Under the Offer, holders of Forge Shares are entitled to receive approximately $3.5812 per Forge Share in cash for each Forge Share tendered to the Offer and, on or about December 30, 2014, may receive up to an additional $0.0688 per Forge Share. This additional amount is subject to reduction in certain cases as more fully described in the takeover bid circular mailed to holders of Forge Shares in connection with the Offer.

As the Offer was accepted by holders of greater than 90% of the outstanding Forge Shares, Whitecap will take steps to acquire the remainder of the Forge Shares pursuant to the compulsory acquisition provisions contained in the Business Corporations Act (Alberta).

In addition, Whitecap's acquisition of all of the outstanding shares of Bashaw Oil Ltd. is expected to be completed on October 1, 2014.

Note Regarding Forward Looking Statements

This press release contains forward‐looking statements and forward‐looking information (collectively "forward‐looking information") within the meaning of applicable securities laws with respect to the Offer, including the timing of the take-up of and payment for the Forge Shares; the completion of the compulsory acquisition; the size and timing of the additional payment, if any, and the completion of the acquisition of Bashaw Oil Ltd. Readers are cautioned that the foregoing list of factors should not be construed as exhaustive. Forward‐looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward‐looking information is based on certain key expectations and assumptions made by Whitecap's management. Although Whitecap believes that the expectations represented in such forward‐looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward‐looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward‐looking information will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom.

Readers are cautioned that the foregoing list is not exhaustive. Additional information on these and other factors that could affect our operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). These forward‐looking statements are made as of the date of this press release and Whitecap disclaims any intent or obligation to update publicly any forward‐looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE: Whitecap Resources Inc.

Grant Fagerheim, President & CEO
or
Thanh Kang, VP Finance and CFO

Whitecap Resources Inc.
500, 222 - 3 Avenue SW
Calgary, AB, T2P 0B4

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