08:14 AM EDT, 10/07/2024 (MT Newswires) -- MEG Energy Corp. ( MEGEF ) said Monday it has received notice of an unsolicited 'mini-tender' offer made by TRC Capital Investment Corporation to purchase up to 4 million MEG shares, or approximately 1.50% of MEG's outstanding shares, at a price of C$24.25 per share. A statement noted the offering price represents a discount of 4.57% to the closing price of MEG shares on the Toronto Stock Exchange on September 30, 2024 , the last trading day before the mini-tender offer was commenced, and a 12.42% discount to the closing price of the MEG shares on the TSX on October 4, 2024.

MEG said it does not endorse TRC Capital's unsolicited offer, has no association with TRC Capital or its offer, and does not recommend or endorse this unsolicited mini-tender offer. Shareholders are cautioned that TRC Capital's offer has been made at a price below the current market price for MEG shares. In addition, MEG cautioned shareholders that the offer is highly conditional and is not funded; the completion of the offer is subject to receipt of all financing necessary to fund TRC Capital's financial obligations under the offer.