Court and Shareholder Approval of Acquisition of Caracal

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 ofcommon shares held today to consider and to vote on a plan of arrangement (the"Arrangement") under the Canada Business Corporations Act pursuant to which8682321 Canada Inc., a subsidiary of Glencore plc ("Glencore"), will acquireall of the issued and outstanding common shares of Caracal for £5.50 per commonshare in cash. By special resolution passed at the special meeting of Caracalshareholders, the Arrangement was approved by 99.79% of the votes cast byCaracal shareholders and also received the minority approval required byMultilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions. Caracal also announced that, following the special meeting, the Court ofQueen'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 allconditions that are applicable to the Arrangement, including the granting of anapproval under the Investment Canada Act. About Caracal Energy Inc. Caracal Energy Inc. is an international exploration and development companyfocused on oil and gas exploration, development and production activities inthe Republic of Chad, Africa. In 2011, the Company entered into threeproduction sharing contracts ("PSCs") with the government of the Republic ofChad. These PSCs provide exclusive rights to explore and develop reserves andresources over a combined area of 26,103 km2 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 resourcecompanies. As a leading integrated producer and marketer of commodities with awell-balanced portfolio of diverse industrial assets, Glencore is stronglypositioned to capture value at every stage of the supply chain, from sourcingmaterials deep underground to delivering products to an international customerbase. The Group's industrial and marketing activities are supported by a globalnetwork of more than 90 offices located in over 50 countries. The Group'sdiversified operations comprise over 150 mining and metallurgical sites,offshore oil production assets, farms and agricultural facilities. The Groupemploys 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 isprospective in nature, including information regarding the completion of theArrangement and the timing thereof. Forward-looking information is not based onhistorical facts, but rather on current expectations and projections aboutfuture events, and is therefore subject to risks and uncertainties which couldcause actual results to differ materially from the future results expressed orimplied by the forward-looking information. This information generally can beidentified 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, anystatements regarding Caracal's future expectations, beliefs, goals or prospectsare or involve forward-looking information. Forward-looking information is also necessarily based upon a number ofassumptions that, while considered reasonable by management, are inherentlysubject to significant business, economic, regulatory and competitiveuncertainties and contingencies. Caracal cautions the reader that suchforward-looking information involves known and unknown risks, uncertainties andother factors that could cause actual results, performance or achievements ofCaracal to differ materially from any future results, performance orachievements expressed or implied by such forward-looking information. Inaddition to general economic conditions, there are specific risks, includingbut not limited to, the possibility that all conditions precedent to theArrangement may not be satisfied or waived prior to the agreed upon outsidedate to complete the Arrangement and the parties' ability to satisfy theconditions to the completion of the Arrangement, including that the necessaryregulatory approvals may not be obtained on the terms expected or on theanticipated schedule. Caracal believes the material factors, expectations andassumptions reflected in the forward-looking statements are reasonable, but noassurance can be given that these factors, expectations and assumptions willprove to be correct. Undue reliance should not be placed on the forward-looking statements containedherein, which are made as of the date hereof and, except as required by law,Caracal undertakes no obligation to update publicly or revise anyforward-looking statements, whether as a result of new information, futureevents or otherwise. The forward-looking statements contained herein areexpressly qualified by this cautionary statement. SOURCE: Caracal Energy Inc. For further information: Caracal Energy Inc.Gary Guidry, President and Chief Executive OfficerTrevor Peters, Chief Financial Officer+1 403-724-7200 Longview Communications - Canadian Media EnquiriesAlan Bayless+1 604-694-6035Joel Shaffer+1 416-649-8006 FTI Consulting - UK Media EnquiriesBen Brewerton / Ed Westropp+ 44 (0) 207 8313 3113caracalenergy.sc@fticonsulting.com