TIDMBNK 
 
Bankers Petroleum receives certain regulatory approvals for proposed 
acquisition by Geo-Jade 
 
CALGARY, May 10, 2016 /CNW/ - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK, 
AIM: BNK) is pleased to announce that the proposed corporate transaction (the 
"Arrangement") has received the necessary approvals from the Albanian 
Competition Authority, the Chinese National Development and Reform Commission 
(NDRC) and the Ministry of Commerce of the People's Republic of China (MOFCOM) 
through the Shanghai Free Trade Zone Management Committee. 
 
Both parties continue to pursue the outstanding regulatory approvals pursuant 
to the Investment Canada Act (Canada) and the Chinese State Administration of 
Foreign Exchange (SAFE). Bankers will host its special meeting of shareholders 
(the "Special Meeting") on May 31, 2016, seeking Shareholder approval for the 
Arrangement. If approved at the Special Meeting, closing of the Arrangement 
remains on track to occur in June 2016, following which Bankers' common shares 
will be delisted from the Toronto Stock Exchange ("TSX") and the AIM market of 
the London Stock Exchange. 
 
Special Meeting of Shareholders 
 
Bankers' shareholders of record as of April 19, 2016, are entitled to vote at 
the Special Meeting. The Arrangement must be approved by the holders of not 
less than 66â..."% of the Bankers common shares present in person or represented 
by proxy at the Special Meeting. Shareholders are encouraged to read the 
Management Information Circular prepared in connection with the Arrangement as 
it provides important information about Bankers and the Arrangement. The 
Management Information Circular and related proxy materials are available on 
SEDAR and Bankers' website (http://www.bankerspetroleum.com/). 
 
The Special Meeting will be held at The Metropolitan Centre (Strand/Tivoli Rm), 
333 4th Avenue SW, Calgary, Alberta on Tuesday, May 31, 2016 at 3:00 p.m. 
(Calgary time). Bankers will provide further information with respect to the 
timing of closing of the Arrangement and the delisting of Bankers common shares 
from the TSX and AIM as updates become available. 
 
Benefits of the Arrangement include: 
 
Cash price of C$2.20 per Bankers common share 
 
Bankers debt will be handled separately by the purchasing Company and will not 
affect the stated purchase price of $2.20 per Bankers common share 
 
The Arrangement is an opportunity for shareholders to crystalize value 
representing a premium of 98% over Bankers' closing share price on the TSX of 
C$1.11 on March 18, 2016, and 109% over the 30-trading day volume weighted 
average trading price of Bankers common shares of C$1.05 per share ending on 
March 18, 2016 
 
The Arrangement has received the unanimous approval of the Board of Directors 
of Bankers, who have recommended that shareholders vote in favor of it, and 
carries the full support of Bankers' management team 
 
Shareholders who have questions regarding the Arrangement or require assistance 
with voting may contact the Proxy Solicitation Agent below: 
 
Laurel Hill Advisory Group 
Toll Free: 1-877-452-7184 
International: +1 416-304-0211 outside Canada and the US 
By Email: assistance@laurelhill.com 
 
=---------- 
 
About Bankers Petroleum Ltd. 
 
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and 
production company focused on developing large oil and gas reserves in Albania 
and Eastern Europe. In Albania, Bankers operates and has the full rights to 
develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova 
oilfield, and a 100% interest in Exploration Block "F". In 2015 Bankers 
acquired an 85% interest in the rights to explore the Püspökladány Block 
concession within the Pannonian Basin located in north eastern Hungary. The 
Bankers Shares are traded on the TSX and the AIM Market in London, England 
under the stock symbol BNK. 
 
Caution Regarding Forward-looking Information 
 
Certain information set forth in this press release, including information and 
statements which may contain words such as "could", "plans", "intends" 
"should", "anticipate", "expects", "will", "propose", "opportunity", "future", 
"continue", and similar expressions and statements relating to matters that are 
not historical facts, contain forward-looking statements, including but not 
limited to statements regarding: the proposed Arrangement and the anticipated 
timing of closing, the timing of receipt of required regulatory approvals, the 
timing of the Special Meeting and the treatment of Bankers debt. By their 
nature, forward-looking statements are subject to numerous risks and 
uncertainties, some of which are beyond Bankers' control. Completion of the 
Arrangement is subject to a number of conditions, including receipt of the 
approval's required by the Investment Canada Act (Canada) and approvals 
required by the People's Republic of China and the competition authority of 
Albania, and other conditions which are typical for transactions of this 
nature. Failure to satisfy any of these conditions, the emergence of a superior 
proposal or the failure to obtain approval of Bankers' shareholders may result 
in the termination of the Arrangement Agreement. The foregoing list is not 
exhaustive. Additional information on these and other risks that could affect 
completion of the Arrangement is set forth in the information circular in 
respect of the Special Meeting, which is available on SEDAR at www.sedar.com. 
Readers are cautioned that the assumptions used in the preparation of such 
information, although considered reasonable at the time of preparation, may 
prove to be imprecise and, as such, undue reliance should not be placed on 
forward-looking statements. The actual results, performance or achievement of 
Bankers could differ materially from those expressed in, or implied by, these 
forward-looking statements and, accordingly, no assurance can be given that any 
of the events anticipated by the forward-looking statements will transpire or 
occur, or if any of them do so, what benefits that Bankers will derive 
therefrom. Bankers disclaims any intention or obligation to update or revise 
any forward-looking statements, whether as a result of new information, future 
events or otherwise, except as required by applicable securities laws. 
 
David French, President and Chief Executive Officer, (403) 513-6930; Doug Urch, 
Executive VP, Finance and Chief Financial Officer, (403) 513-2691; Laura 
Bechtel, Investor Relations and Corporate Communications Specialist, (403) 
513-3428; Email: investorrelations@bankerspetroleum.com, Website: 
www.bankerspetroleum.com; AIM NOMAD: Canaccord Genuity Limited, Henry 
Fitzgerald-O'Connor, +44 0 207 523 8000, AIM BROKER AND FINANCIAL ADVISOR: 
FirstEnergy Capital LLP, Hugh Sanderson / David van Erp, +44 0 207 448 0200 
 
 
 
END 
 

(END) Dow Jones Newswires

May 10, 2016 08:40 ET (12:40 GMT)

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