Osum Advises Shareholders of the Potential for a Superior Bid

Osum Advises Shareholders of the Potential for a Superior Bid

CALGARY, AB, Feb. 15, 2021 /CNW/ – Osum Oil Sands Corp. (“Osum” or the “Company”) wishes to advise shareholders that its special committee of independent directors (the “Special Committee”) is currently in discussions that could lead to a superior offer to the current takeover bid of $2.40 per share by Waterous Energy Fund (the “WEF Offer”). The Special Committee expects to be in a position to announce the outcome of those discussions in the next several days and well in advance of the February 24^th expiry of the WEF Offer.

As a result, there is no need to tender to the WEF Offer at this time.

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