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Petrus Resources acquires Arriva Energy


Published Sep 11, 2014
Petrus Resources Ltd.

Petrus Resources Ltd. has closed the previously announced take-over of Arriva Energy Inc. (Arriva), completed an asset acquisition in the Ferrier area to expand the Company's land position and is increasing the size of its previously announced private placement to up to $155 million.

Petrus says that 99.4% of the issued and outstanding common shares ("Arriva Shares") of Arriva were tendered pursuant to Petrus' offer to purchase (the "Offer") all of the issued and outstanding Arriva Shares. Petrus directed the depositary to take up and pay for such Arriva Shares. As the Offer was accepted by holders of greater than 90% of the outstanding Arriva Shares, Petrus has also completed steps to acquire the remainder of the Arriva Shares pursuant to the compulsory acquisition provisions contained in the Business Corporations Act (Alberta).

Tags: Arriva Energy Inc., Petrus Resources Ltd.




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