Scandoil  

Coral Hill Energy to be acquired by Crescent Point


Published Jul 6, 2015
Coral Hill Energy Ltd.

Coral Hill Energy Ltd. has entered into an arrangement agreement with Crescent Point Energy Corp. pursuant to which Crescent Point will acquire all of the issued and outstanding common shares of Coral Hill not already owned by Crescent Point by way of a plan of arrangement on the basis of 0.0567 of a common share in the capital of Crescent Point for each Coral Hill Share.

All of the directors and officers and certain shareholders of Coral Hill, representing approximately 36.9% of the issued and outstanding Coral Hill Shares, have entered into voting support agreements with Crescent Point pursuant to which they have agreed to, among other things, support the Arrangement and vote their Coral Hill Shares in favour of the Arrangement, subject to the terms of such agreements.

Commenting on the Arrangement, Don Rae, President and Chief Executive Officer of Coral Hill stated:'Crescent Point's acquisition of Coral Hill provides our shareholders with the opportunity to not only receive Crescent Point's shares, which offer compelling value, but the ability to participate in the continued development of our assets while gaining exposure to some of the most economic light oil resource plays in North America.'

Tags: Coral Hill Energy Ltd., Crescent Point Energy Corp.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml