Oranje-Nassau Energie B.V. and Cirrus Energy Corporation announce Completion of Arrangement

Oranje-Nassau Energie B.V. ("ONE"), the Netherlands-based privately owned oil and gas investment company and Cirrus Energy Corporation ("Cirrus") (TSX-V: CYR) are pleased to announce the successful completion today of the previously announced statutory plan of arrangement (the “Arrangement”) and certain post-closing restructuring transactions, including the amalgamation of 1588475 Alberta Ltd. ("1588475"), a wholly-owned acquisition subsidiary of ONE, and Cirrus, to form a corporation also named “Cirrus Energy Corporation”. Under the Arrangement, 1588475 acquired 88,303,335 common shares of Cirrus, being all the outstanding shares of Cirrus, at a price of C$1.15 per share in cash, valuing the transaction at approximately C$102 million.

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