Strathcona Resources Ltd. is granted an exemption to offer non-identical consideration in its acquisition of MEG Energy Corp., allowing non-resident shareholders to receive cash instead of stocks.

Information on the Target

Strathcona Resources Ltd. (the Filer) is a corporation governed by the Business Corporations Act of Alberta. It maintains its headquarters in Calgary, Alberta, and operates as a reporting issuer across all provinces of Canada without any defaults in securities legislation. As of June 30, 2025, the Filer has authorized capital that includes an unlimited amount of common and preferred shares, of which 214,235,608 common shares are currently outstanding and publicly traded on the Toronto Stock Exchange (TSX) under the ticker 'SCR'.

Strathcona Resources Ltd. has made a strategic move to acquire all outstanding common shares of MEG Energy Corp. (MEG), another corporation based in Calgary under the Alberta Business Corporations Act. MEG also stands as a reporting issuer in Canada with a substantial number of common shares, totaling 254,378,035, listed on the TSX under the symbol 'MEG'.

Industry Overview in Alberta

Alberta's energy sector is a cornerstone of the province's economy, driven largely by oil and gas production. As one of the largest oil reserves globally, Alberta continues to attract significant investments and technology advancements aimed at