InPlay Oil Corp. Announces Voting Results from Special Meeting of Shareholders

InPlay Oil Corp. Announces Voting Results from Special Meeting of Shareholders

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CALGARY, AB, April 4, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to announce the voting results from the special meeting (the "Meeting") of the holders of InPlay common shares ("Common Shares") held earlier today. At the Meeting, shareholders approved the issuance (the "Share Issuance") of approximately 54.8 million Common Shares to Obsidian Energy Ltd. ("Obsidian") as partial consideration for the previously announced acquisition of certain oil and gas assets from Obsidian (the "Acquisition"), by an affirmative vote of approximately 99.72% of the votes cast in respect thereof by shareholders present in person or by proxy at the Meeting. The Corporation has received all necessary approvals in connection with the Acquisition, including conditional approval from the Toronto Stock Exchange and clearance under the Competition Act (Canada), and expects the Acquisition to close on or about April 7, 2025.

Shareholders also approved an amendment to the articles of InPlay to effect a consolidation of the Common Shares (the "ShareConsolidation"). The Share Consolidation is expected to occur within the next five to seven business days.

For complete voting results, please see the Report of Voting Results which is available on the Company's SEDAR+ profile at sedarplus.ca.

About InPlay Oil Corp.                                      

InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The Company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The Common Shares trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.

SOURCE InPlay Oil Corp.