Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/suroco-energy-signs-agreement-with-petroamerica-oi.shtmlSuroco Energy signs agreement with Petroamerica Oil
Suroco Energy Inc. has entered into an arrangement agreement (the "Arrangement Agreement") with
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Suroco Energy Inc. has entered into an arrangement agreement (the "Arrangement Agreement") with Petroamerica Oil Corp. (Petroamerica) whereby Petroamerica has agreed to acquire all of the issued and outstanding common shares of Suroco (the "Suroco Shares") by way of a statutory plan of arrangement under theBusiness Corporations Act (Alberta) (the "Arrangement").
Pursuant to the terms of the Arrangement Agreement, holders of Suroco Shares (Suroco Shareholders) will receive 1.7627 common shares of Petroamerica ("Petroamerica Shares") for each Suroco Share held (the "Exchange Ratio").
