Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/mart-resources-enters-arrangement-agreement-with-m.shtmlMart Resources enters arrangement agreement with Midwestern and San Leon
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.
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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.
