Twin Butte Energy Ltd. has completed its acquisition of Waseca Energy Inc. (Waseca) pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Acquisition").

Pursuant to the Acquisition, Twin Butte paid approximately $136 million (including the assumption of approximately $10.0 million of positive working capital and after accounting for estimated transaction costs). Total cash of $57.6 million was allocated to former Waseca shareholders along with the issuance of approximately 30.2 million common shares to acquire all of the outstanding securities of Waseca.

Tags: Twin Butte Energy Ltd.