Pine Cliff Energy Ltd. and Geomark Exploration Ltd. report the closing of their previously announced plan of arrangement whereby Pine Cliff and Geomark combined their operations. The successful completion of the Arrangement provides the companies with a strong balance sheet and access to capital on a consolidated basis as they pursues their business plan.

Pursuant to the Arrangement, Pine Cliff acquired all of the issued and outstanding common shares of Geomark on the basis of 1.5 common shares of Pine Cliff for each Geomark Share, resulting in the issuance of 81,767,641 Pine Cliff Shares. Geomark is now a wholly-owned subsidiary of Pine Cliff.

Tags: Pine Cliff Energy Ltd.