Court and Shareholder Approval of Acquisition of Caracal by Glencore

 Court and Shareholder Approval of Acquisition of Caracal by Glencore  CALGARY, June 6, 2014 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company")  (LSE:CRCL) announced today the results of its special meeting of holders of  common shares held today to consider and to vote on a plan of arrangement (the  "Arrangement") under the Canada Business Corporations Act pursuant to which  8682321 Canada Inc., a subsidiary of Glencore plc ("Glencore"), will acquire  all of the issued and outstanding common shares of Caracal for £5.50 per  common share in cash. By special resolution passed at the special meeting of  Caracal shareholders, the Arrangement was approved by 99.79% of the votes cast  by Caracal shareholders and also received the minority approval required by  Multilateral Instrument 61-101 - Protection of Minority Security Holders in  Special Transactions.  Caracal also announced that, following the special meeting, the Court of  Queen's Bench of Alberta granted its final order approving the Arrangement.  Caracal expects the Arrangement to close in late June or early July of 2014.  The closing of the Arrangement is subject to the satisfaction or waiver of all  conditions that are applicable to the Arrangement, including the granting of  an approval under the Investment Canada Act.  About Caracal Energy Inc.  Caracal Energy Inc. is an international exploration and development company  focused on oil and gas exploration, development and production activities in  the Republic of Chad, Africa. In 2011, the Company entered into three  production sharing contracts ("PSCs") with the government of the Republic of  Chad. These PSCs provide exclusive rights to explore and develop reserves and  resources over a combined area of 26,103 km(2) in southern Chad.  The Company's shares trade on the London Stock Exchange under the symbol CRCL.  About Glencore  Glencore is one of the world's largest global diversified natural resource  companies. As a leading integrated producer and marketer of commodities with a  well-balanced portfolio of diverse industrial assets, Glencore is strongly  positioned to capture value at every stage of the supply chain, from sourcing  materials deep underground to delivering products to an international customer  base. The Group's industrial and marketing activities are supported by a  global network of more than 90 offices located in over 50 countries. The  Group's diversified operations comprise over 150 mining and metallurgical  sites, offshore oil production assets, farms and agricultural facilities. The  Group employs approximately 200,000 people, including contractors.  Cautionary Statement on Forward-Looking Information  Certain information in this news release is "forward-looking information"  within the meaning of applicable Canadian Securities legislation and is  prospective in nature, including information regarding the completion of the  Arrangement and the timing thereof. Forward-looking information is not based  on historical facts, but rather on current expectations and projections about  future events, and is therefore subject to risks and uncertainties which could  cause actual results to differ materially from the future results expressed or  implied by the forward-looking information. This information generally can be  identified by the use of forward-looking words such as "may", "should",  "will", "could", "intend", "estimate", "plan", "anticipate", "expect",  "believe" or "continue", or the negative thereof or similar variations. In  particular, any statements regarding Caracal's future expectations, beliefs,  goals or prospects are or involve forward-looking information.  Forward-looking information is also necessarily based upon a number of  assumptions that, while considered reasonable by management, are inherently  subject to significant business, economic, regulatory and competitive  uncertainties and contingencies. Caracal cautions the reader that such  forward-looking information involves known and unknown risks, uncertainties  and other factors that could cause actual results, performance or achievements  of Caracal to differ materially from any future results, performance or  achievements expressed or implied by such forward-looking information. In  addition to general economic conditions, there are specific risks, including  but not limited to, the possibility that all conditions precedent to the  Arrangement may not be satisfied or waived prior to the agreed upon outside  date to complete the Arrangement and the parties' ability to satisfy the  conditions to the completion of the Arrangement, including that the necessary  regulatory approvals may not be obtained on the terms expected or on the  anticipated schedule. Caracal believes the material factors, expectations and  assumptions reflected in the forward-looking statements are reasonable, but no  assurance can be given that these factors, expectations and assumptions will  prove to be correct.  Undue reliance should not be placed on the forward-looking statements  contained herein, which are made as of the date hereof and, except as required  by law, Caracal undertakes no obligation to update publicly or revise any  forward-looking statements, whether as a result of new information, future  events or otherwise. The forward-looking statements contained herein are  expressly qualified by this cautionary statement.    SOURCE  Caracal Energy Inc.   Caracal Energy Inc. Gary Guidry, President and Chief Executive Officer Trevor  Peters, Chief Financial Officer +1 403-724-7200  Longview Communications - Canadian Media Enquiries Alan Bayless +1  604-694-6035 Joel Shaffer +1 416-649-8006  FTI Consulting - UK Media Enquiries Ben Brewerton / Ed Westropp + 44 (0) 207  8313 3113  To view this news release in HTML formatting, please use the following URL:  CO: Caracal Energy Inc. ST: Alberta NI: OIL MNA  
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