Donnybrook Energy Sells Interest in Simonette and Resthaven Properties

Donnybrook Energy Inc. (TSXV:DEI) announced that it has sold their interest in the  Simonette and Resthaven oil and gas properties to Cequence Energy Ltd. (TSX:CQE).

As quoted in the press release:

Upon completion of the Arrangement, Donnybrook Shareholders are anticipated to receive, based on the current number of outstanding Donnybrook Shares, approximately 0.0531 of a Cequence Share for each Donnybrook Share while continuing to hold their existing Donnybrook Shares. On closing, it is anticipated that existing Donnybrook Shareholders will own approximately 5 percent of the outstanding Cequence Shares.

To view the whole press release, click here.