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Mart Resources enters arrangement agreement with Midwestern and San Leon


Published Jan 25, 2016
Mart Resources, Inc.

Mart Resources, Inc. has entered into an arrangement agreement with Midwestern Oil & Gas Company Limited ('Midwestern'), San Leon Energy Plc and 1038221 B.C. Ltd. ('Acquireco'). Under the terms of the Arrangement Agreement, Acquireco, a wholly owned subsidiary of Midwestern, will acquire all of the issued and outstanding common shares of Mart by way of a plan of arrangement under the Business Corporations Act (Alberta) (the 'Arrangement').

Each Mart shareholder will receive CAD$0.25 in exchange for each Mart common share held (the 'Per Share Consideration') for aggregate consideration of all Mart shares of approximately CAD$89.2 million.

Tags: Mart Resources, Midwestern Oil and Gas Company PLC, San Leon Energy




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