PetroFrontier Corp. retains GMP Securities L.P. to assist in strategic review
CALGARY, Jan. 14, 2013 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier" or the "Corporation") announces, further to its press release dated December 4, 2012, that it has retained GMP Securities L.P. ("GMP") as the Corporation's exclusive financial advisor. GMP will assist the Corporation in identifying and evaluating a range of strategic alternatives, merger or other business combination of the Corporation with another entity or the sale of the Corporation as a whole. Over the past few weeks, the Corporation has received a number of inquiries, has opened an electronic data room and has already signed confidentiality agreements with several parties.
PetroFrontier cautions that there are no guarantees that this strategic alternative review process will result in a transaction or, if a transaction is undertaken, as to its terms or timing. The Corporation has not set a definitive schedule to complete its evaluation and does not intend to disclose developments with respect to this process unless and until the evaluation has been completed or a definitive agreement has been reached, unless otherwise determined or required by law.