CLEO Energy Corp. – Insolvency Sale

CLEO Energy Corp. (“CLEO” or the “Company”) has filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4 (1) of the Bankruptcy and Insolvency Act (the “BIA”) and Alvarez & Marsal Canada Inc. (“A&M”) is acting as Proposal Trustee of CLEO for the NOI process. A sale and solicitation process (the “SSP”) is to be undertaken by the Company in its NOI proceedings. CLEO has engaged Sayer Energy Advisors to assist the Company with the SSP in order to solicit interest in the purchase of or investment in all or part of the business or operations of the Company or its undertaking, property and assets. Potential outcomes include but are not limited to a sale of the shares of the Company, the sale,…