Pinecrest Energy Inc. (TSXV:PRY) has announced it has been informed by Spartan Oil Corp. that Spartan has received an unsolicited offer from a third-party to acquire all of the outstanding and issued common shares of Spartan.
Highlights from press release:
- Pinecrest remains committed to completing the plan of arrangement
- Pinecrest Board of Directors has unanimously determined that the Arrangement is in the best interests of Pinecrest and the shareholders of Pinecrest
Get Our Expert Guide to Oil Investing FREE!Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World