Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/probe-resources-completes-proposed-transaction-wit.shtmlProbe Resources completes proposed transaction with Rooster Probe GOM
Probe and Rooster Probe GOM Oil & Gas Ltd. report the successful completion of their previously announced merger. Prior to the completion of the Transaction
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Probe and Rooster Probe GOM Oil & Gas Ltd. report the successful completion of their previously announced merger.
Prior to the completion of the Transaction, Probe: (i) consolidated its common shares on a 250 to 1 basis, and (ii) amended its articles to authorize the creation of a new class of proportionate voting shares.
Also prior to the completion of the Transaction, Rooster GOM completed a private placement of 34,543,400 subscription receipts at a price of $0.60 each for gross aggregate proceeds of $20,726,040. K2 Principal Fund L.P. (K2) and Chester F. Morrison, Jr., both non-arm's length parties with respect to the Transaction, purchased 8,340,000 and 8,333,000 subscription receipts under the offering, respectively, for aggregate consideration from such subscribers in excess of $10,000,000.
