Sintana Energy Details MI 61-101 Compliance for Challenger Acquisition

Sintana Energy ( (TSE:SEI) ) has shared an announcement.

Sintana Energy has provided additional disclosure requested by the TSX Venture Exchange under Multilateral Instrument 61-101 in relation to its acquisition of Challenger Energy Group by scheme of arrangement, which became effective on 16 December 2025. The company emphasized that the deal was an arm’s-length transaction and was exempt from MI 61-101’s formal valuation and minority shareholder approval requirements, as Challenger was not a related party and the participation of CEO Robert Bose, a related party who held less than 10% of both companies’ shares, fell below the 25% market capitalization threshold. Sintana detailed Bose’s pre- and post-transaction shareholdings, highlighted that he declared his interest and abstained from the board vote, and noted that a special committee of independent directors obtained a third-party valuation and fairness opinion and unanimously recommended the transaction, underscoring governance measures aimed at protecting minority shareholders and reinforcing regulatory compliance around the Challenger acquisition.

More about Sintana Energy

Sintana Energy Inc. is a Canadian oil and gas company focused on acquiring, exploring, potentially developing and monetising a diversified portfolio of high-impact hydrocarbon assets in emerging frontier geographies. Its portfolio includes interests in eight licences across Namibia and Uruguay, with a pending indirect interest in a licence in Angola, alongside legacy assets in Colombia and The Bahamas, providing exposure to multiple basins, operators, regulators and geopolitical regimes.

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