Canacol Energy Granted Creditor Protection to Pursue Restructuring

TORONTO, Nov. 19, 2025 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. (TSX: CNE) (OTCQX: CNNEF) (BVC: CNE.C) (“Canacol” or the “Company”) announces that the Company and its subsidiaries have obtained an initial order for creditor protection (the “Initial Order”) from the Court of King’s Bench of Alberta (the “Court”) pursuant to the Companies’ Creditors Arrangement Act (the “CCAA”). The order provides for a stay of proceedings for 10 days staying action by creditors and appointed KPMG Inc. as Court-appointed Monitor of the Company and its applicant subsidiaries (in such capacity, the “Monitor”). The CCAA is a Canadian federal statute that allows debtor companies to restructure their affairs under court supervision, with the aim of maximizing value for stakeholders and preserving business operations. Under the CCAA, the Company continues operating while it works to restructure its affairs. The Monitor is appointed by the court to oversee the process, report to the court, and liaise with stakeholders. The Company is scheduled to appear before the Court for a “come back” hearing for additional relief on November 26, 2025.