Algonquin Oil & Gas Updates on Mondak Petroleum Agreement

- March 12th, 2012

Algonquin Oil & Gas Limited (TSXV:AQX) has finished the arrangement agreement with Mondak Petroleum Inc.

Algonquin Oil & Gas Limited (TSXV:AQX) has finished the arrangement agreement with Mondak Petroleum Inc.

As quoted in the press release:

The Arrangement Agreement provided for the following:

  • a wholly-owned subsidiary of Algonquin (“Algonquin Sub”) amalgamated (the “Amalgamation”) with Mondak to form a new amalgamated entity (“Amalco”) that continues under the name “Mondak Petroleum Inc.”;
  • Algonquin received shares of Amalco on the basis of one common share in the capital of Amalco for every common share of Algonquin Sub held immediately prior to the Amalgamation, resulting in Amalco becoming a wholly-owned subsidiary of Algonquin;

Click here to read the Algonquin Oil & Gas (TSXV:AQX) press release.

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