Permian Resources Corporation has announced the completion of the liquidation of Lynden Energy Corp., a corporation organized under the laws of British Columbia. This move comes as part of the post-merger integration process following the acquisition of Earthstone Energy Inc. and its subsidiaries.
Lynden, a Canadian subsidiary of Earthstone, has been dissolved to simplify Permian Resources’ corporate structure and reduce future tax obligations, as initially planned during the Earthstone acquisition. The liquidation process, while administrative in nature, is a strategic step for the Company and has no impact on its previously announced financial and operational results and guidance.
In connection with the liquidation, Permian Resources has applied to the British Columbia Securities Commission and the Ontario Securities Commission for a joint order to cease to be a reporting issuer in British Columbia, Alberta, and Ontario—where it currently holds reporting issuer status.
If the Order Sought is granted by the BCSC and the OSC, Permian Resources will no longer be a reporting issuer in any jurisdiction in Canada. However, the Company will continue to operate as a reporting company under the Securities Exchange Act of 1934, as amended. It will maintain its obligation to file periodic and current reports with the Securities and Exchange Commission (SEC), ensuring compliance with U.S. securities laws and the rules of the New York Stock Exchange (NYSE), where it remains listed.
For more information visit www.permianres.com
