Scandoil  

Tourmaline Oil Corp. to acquire Santonia Energy Inc.


Published Mar 5, 2014
Tourmaline Oil Corp.-3

Tourmaline Oil Corp. has entered into an agreement with Santonia Energy Inc. pursuant to which Tourmaline will acquire all of the issued and outstanding common shares of Santonia on the basis of 0.03012 of a Tourmaline common share for each Santonia common share. The acquisition will be effected by statutory plan of arrangement (the "Arrangement").

Based on the five day volume weighted average trading price of the Tourmaline common shares on the TSX, the deemed acquisition price is approximately $189.1 million, comprised of the issuance of approximately 3.228 million Tourmaline common shares and the assumption of an estimated $28.3 million of net debt as at January 31, 2014, excluding estimated associated transaction costs of approximately $9.0 million.

Tags: Tourmaline Oil Corp.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml