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Bellatrix Exploration and Angle Energy completes arrangement


Published Dec 13, 2013
Bellatrix Exploration Ltd.

Bellatrix Exploration Ltd. and Angle Energy Inc. have closed the previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Bellatrix acquired all of the issued and outstanding common shares of Angle (the "Angle Shares") for consideration consisting of $69.7 million in cash and approximately 30.2 million Bellatrix common shares.

Bellatrix also acquired all of the issued and outstanding 5.75% convertible unsecured subordinated debentures of Angle with a maturity date of January 31, 2016 (the "Angle Debentures") in the aggregate principal amount of $60,000,000 on the basis of $1,040 in cash per $1,000 principal amount of the Angle Debentures, plus accrued and unpaid interest to yesterday.

Tags: Bellatrix Exploration Ltd.




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