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Tourmaline Oil Corp. completes acquisition of Mapan Energy Ltd.


Published Aug 17, 2015
Tourmaline Oil Corp.-2

Tourmaline Oil Corp. and Mapan Energy Ltd. have jointly completed Tourmaline's previously announced acquisition of all of the outstanding Mapan common shares pursuant to an arrangement under the Business Corporations Act (Alberta) (the "Arrangement").

Under the Arrangement, which was approved by Mapan shareholders by a vote of greater than 99.9% of the votes cast at the meeting, Mapan shareholders received 0.0379 of a Tourmaline common share for each Mapan common share resulting in the issue of approximately 2.7 million Tourmaline common shares. It is anticipated that the Mapan common shares will be delisted from trading at the close of markets on the TSX Venture Exchange on or about August 17, 2015.

Tags: Mapan Energy Ltd., Tourmaline Oil Corp.




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