Questerre Energy Corporation seeks regulatory exemption to acquire outstanding shares of Red Leaf Resources, Inc., enhancing its influence in the shale energy sector.

Target Information

Questerre Energy Corporation (the "Filer") is an Alberta-based company incorporated under the Business Corporations Act of Alberta, with its headquarters located in Calgary. The Filer is a reporting issuer across all provinces of Canada and currently holds approximately 40.88% of the outstanding common stock of Red Leaf Resources, Inc. ("Red Leaf"), which is a shale energy technology company situated in Salt Lake City, Utah. Red Leaf, however, is not a reporting issuer in any Canadian jurisdiction, and its securities are neither listed nor quoted on any marketplace where trading data is publicly available.

As of September 30, 2025, Questerre Energy intends to acquire all outstanding common stock of Red Leaf that it does not already own in exchange for shares of Questerre Energy at a deemed value of US$21 per share. The proposed transaction falls under the take-over bid regulations but requires an exemption due to the concentration of Canadian security holders exceeding the 10% threshold specified in the relevant Canadian laws.

Industry Overview

The shale energy sector in the United States has experienced robust growth over the last decade, characterized by advancements in extraction technologies and increasing domestic demand for energy. Companies like Red Leaf are at the forefront of th