Eaglewood Energy Inc. has entered into an arrangement agreement (the "Arrangement Agreement") with Transform Exploration Pty Ltd. (Transform), an oil and gas company focused on the Australasian and South-East Asian regions, for the purchase of all of the issued and outstanding shares of Eaglewood by a wholly-owned subsidiary of Transform, pursuant to a plan of arrangement conducted pursuant to the Business Corporations Act (Alberta) (the "Arrangement").

Under the terms of the Arrangement Agreement, Eaglewood shareholders will receive CDN$0.38 in cash for each Eaglewood common share (each an "Eaglewood Share"), representing a premium of approximately 20% over the volume weighted average trading price of CDN$0.315 per Eaglewood Share on the TSX Venture Exchange (TSXV) for the 30-trading days ending May 16, 2014. It is anticipated that the Arrangement will close on or before July 8, 2014.

Tags: Eaglewood Energy