Canadian Natural Resources Limited Announces Further Details Regarding Share Split

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) ("Canadian Natural") announced today that it has set June 3, 2024 as the record date (the "Record Date") for the previously announced two for one split of its common shares (the "Share Split"). The Share Split was approved by shareholders of Canadian Natural at its annual and special meeting of shareholders held on May 2, 2024. On June 10, 2024 (the "Payment Date"), shareholders of record as of the close of business on the Record Date will receive one additional share for every one common share held.

As of the close of markets on May 2, 2024, Canadian Natural had 1,068,104,423 common shares issued and outstanding. Adjusted for the Share Split, there would have been 2,136,208,846 common shares issued and outstanding.

The Share Split will not dilute shareholders' equity and there will be no change to the interest, rights or privileges of common shares. It is believed that the Share Split will encourage greater market liquidity for Canadian Natural's common shares and provide opportunities for ownership of Canadian Natural's common shares by a wider group of investors.

The Toronto Stock Exchange (the "TSX") and the New York Stock Exchange ("NYSE") have determined that the common shares will trade on a due bill basis from June 3, 2024 (the Record Date) to June 10, 2024, inclusive (the "Due Bill Trading Period"). A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as the Share Split. Any trades that are executed during the Due Bill Trading Period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the Share Split. The common shares will commence trading on a split-adjusted basis on June 11, 2024 (the ex-distribution trading date), as of which date purchases of common shares will no longer have the attaching entitlement to the additional common share. The due bill redemption date will be June 11, 2024.

No action is required by shareholders in connection with the Share Split. Existing share certificates representing common shares of Canadian Natural will remain effective and should be retained by shareholders and should not be forwarded to Canadian Natural or Computershare Investor Services Inc. ("Computershare"). Computershare will electronically issue the appropriate number of common shares to CDS Clearing and Depository Services Inc. and the Depository Trust Company for distribution to non-registered (beneficial) shareholders. Non-registered shareholders who hold their common shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the Share Split in accordance with the applicable brokerage account providers' procedures. On or about June 10, 2024, Computershare will send out certificates representing the additional common shares issued to registered shareholders as a result of the Share Split.

The Share Split is not expected to result in taxable income or in any gain or loss to shareholders for Canadian federal income tax purposes. Shareholders are advised to consult with their own tax advisors for further information. All share and per share data for future periods will reflect the Share Split. Canadian Natural's equity-based compensation plans as well as its normal course issuer bid will be adjusted to reflect the Share Split.

Canadian Natural is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.

Canadian Natural Resources LIMITED
T (403) 517-6700   F (403) 517-7350   E ir@cnrl.com
2100, 855 - 2 Street S.W. Calgary, Alberta, T2P 4J8
www.cnrl.com

SCOTT G. STAUTH
President

MARK A. STAINTHORPE
Chief Financial Officer

LANCE J. CASSON
Manager, Investor Relations

Trading Symbol - CNQ
Toronto Stock Exchange
New York Stock Exchange

Certain information regarding the Company contained herein, including but not limited to the Share Split, the Record Date, the Payment Date, the due bill trading dates, the ex-distribution date, the due bill redemption date and the Canadian federal income tax consequences of the Share Split, constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements www.cnrl.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207833

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Canadian Natural Resources Limited Reports Voting Results at Annual and Special Meeting

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) held its Annual and Special Meeting of Shareholders on May 2, 2024. The result of the vote by shareholders for each resolution is reported below.

  1. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed.

Votes ForVotes Withheld
              Catherine M. Best739,666,794
97.19%
21,395,027
2.81%
              M. Elizabeth Cannon755,414,889
99.26%
5,646,932
0.74%
              N. Murray Edwards734,115,206
96.46%
26,946,615
3.54%
              Christopher L. Fong730,264,360
95.95%
30,797,461
4.05%
              Ambassador Gordon D. Giffin681,630,086
89.56%
79,431,703
10.44%
              Wilfred A. Gobert749,993,920
98.55%
11,067,902
1.45%
              Christine M. Healy759,396,832
99.78%
1,664,989
0.22%
              Steve W. Laut752,522,642
98.88%
8,539,180
1.12%
              Honourable Frank J. McKenna713,843,507
93.80%
47,218,314
6.20%
              Scott G. Stauth755,136,229
99.22%
5,925,592
0.78%
              David A. Tuer721,224,440
94.77%
39,837,382
5.23%
              Annette M. Verschuren757,804,674
99.57%
3,257,147
0.43%




Votes ForVotes Withheld
  1. The appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and to authorize the Audit Committee of the Board of Directors to fix their remuneration.
733,200,212
94.14%
45,678,373
5.86%

Votes ForVotes Against
  1. Vote on Share Split of Issued and Outstanding Common Shares of the Corporation be subdivided on a two for one basis.
774,321,586
99.41%
4,556,996
0.59%

Votes ForVotes Against
  1. On an advisory basis, approval of the Corporation's approach to executive compensation.
748,228,501
98.31%
12,833,315
1.69%

 

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Canadian Natural Resources Limited Announces Quarterly Dividend

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announces that its Board of Directors has declared a quarterly cash dividend on its common shares of $1.05 (one dollar and five cents) per common share on a pre-stock split basis or $0.525 (fifty-two and one half cents) per common share after giving effect to the two for one stock split of the common shares, subject to approval at the Company's Annual and Special Meeting of Shareholders on May 2, 2024. The dividend will be payable on July 5, 2024 to shareholders of record at the close of business on June 17, 2024.

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Canadian Natural Resources Limited Announces 2024 First Quarter Results

Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's first quarter results, "Canadian Natural is a world class company and during our 35 years of operations, we've delivered significant value, including recently reaching a position where, commencing in 2024, we are returning 100% of our free cash flow to our shareholders. Crude oil price forecasts have strengthened for the remainder of 2024, including improvements in West Texas Intermediate ("WTI"), Western Canadian Select ("WCS") and Synthetic Crude Oil ("SCO") pricing over those prices experienced in the first quarter of 2024, driving significant targeted free cash flow generation going forward.

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Canadian Natural Resources Limited Announces 2023 Fourth Quarter and Year End Results

Highlighting a successful 2023, Canadian Natural's (TSX: CNQ) (NYSE: CNQ) Chief Financial Officer, Mark Stainthorpe, stated "Through the Company's effective and efficient operations and disciplined capital allocation, we achieved our net debt level of $10 billion in Q423, earlier than previously forecasted. As per our free cash flow allocation policy, we will now target to return 100% of free cash flow to shareholders through dividends and share buybacks."

Canadian Natural's Vice Chairman, Tim McKay, also commented "In 2023, we delivered on our capital allocation strategy by strengthening our balance sheet, providing significant returns to shareholders and strategically developing our assets. We achieved record annual production while growing our reserves organically on both a total proved and total proved plus probable basis, with reserve replacement ratios of 166% and 194% respectively.

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Canadian Natural Resources Limited Announces 2024 Budget

Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Tim McKay, commented on the Company's 2024 budget, "Our teams remain focused on safe, reliable, effective and efficient operations throughout our asset base. Our unique and diversified asset base provides us a key competitive advantage as we can manage the pace and timing of development activities to maximize value growth from our assets. As part of our 2024 budget, the drilling program is weighted towards longer cycle projects in the first half of the year, primarily thermal in situ. During the second half of the year we will focus on shorter cycle development opportunities to better align with incremental market egress and potentially improved commodity pricing, maximizing value for our shareholders.

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Blue Sky Uranium Launches Strategic Exploration Program for In-Situ Recovery Uranium Targets in Argentina with Two New Project Acquisitions

Blue Sky Uranium Launches Strategic Exploration Program for In-Situ Recovery Uranium Targets in Argentina with Two New Project Acquisitions

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce the acquisition of two new projects totaling nearly 80,000 hectares that are prospective for discovery of uranium deposits amenable to In Situ Recovery (" ISR ") in the Neuquén Basin of Argentina (see Figure 1 ). These acquisitions represent a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources.

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Baselode Now Drilling at ACKIO Uranium Prospect

Baselode Now Drilling at ACKIO Uranium Prospect

  • Up to 16,000 metre project-wide drill program, the second largest drill program on Hook project
  • The second drill is anticipated to start in two weeks

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce diamond drilling has started on the ACKIO ("ACKIO") uranium prospect within the Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan (Figure 1).

"We are excited to be finally be back at our flagship Hook project, where we will be looking to expand upon our near-surface uranium discovery ACKIO. Additional drilling on ACKIO offers excellent prospects for expanding the known zones and making new discoveries along strike and depth.

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Trading resumes in:

Company: Blue Sky Uranium Corp.

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Blue Sky Uranium Announces Transaction to Advance the Ivana Uranium Deposit through Feasibility and then to Commercial Production

Blue Sky Uranium Announces Transaction to Advance the Ivana Uranium Deposit through Feasibility and then to Commercial Production

TSX Venture Exchange:   BSK
Frankfurt Stock Exchange:   MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF) "Blue Sky" or the "Company") is pleased to announce that it has entered into a binding term sheet (the " Term Sheet ") effective as of June 6, 2024 with Corredor Americano S.A . (" COAM "), an Argentine company of the Corporación América Group, to complete an option agreement (the " Proposed Transaction ") in respect to the Company's Ivana Uranium-Vanadium Deposit (" Ivana " or the " Property ").

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Imperial providing energy security while reducing emissions

Brad Corson speaks to investments in strategic projects in support of a lower-emission future

Imperial (TSE: IMO, NYSE American: IMO) CEO Brad Corson, presented to the federal Standing Committee on Environment and Sustainable Development on June 6 to share how the company is working to supply Canada's energy needs reliably, safely and securely, while providing benefits to the economy and taking action to reduce emissions.

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Baselode Mobilizes for Hook's 16,000 Metre Drill Program

Baselode Mobilizes for Hook's 16,000 Metre Drill Program

  • Drill mobilization and camp construction near completion for ACKIO and Hook
  • Ground ANT and gravity surveys complete over ACKIO and regional targets at Hook
  • Bear drill program is complete, with results to be released when assays received

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide updates for its ACKIOHook ("ACKIO, Hook") and Bear ("Bear") uranium projects in the Athabasca Basin area of northern Saskatchewan (Figure 1).

"We look forward to exploring the ACKIO discovery and its surroundings on the Hook project this year. New targets include multi-layered geophysical and geological features along strike to the southeast and at depth beneath ACKIO. Additionally, drill hole data suggests the mineralization fluid system is open in both directions. Our regional exploration targets are reinforced with recent ground gravity and ambient noise tomography ("ANT") geophysical surveys over corridors of interest previously identified on the Hook project. We're eager to explore the Hook project," commented James Sykes, CEO, President, and Director of Baselode.

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