PARIS ENERGY INC. ("PI")
BULLETIN TYPE: Resume Trading, Plan of Arrangement- Offer to Purchase
BULLETIN DATE: August 5, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange (the "Exchange") has accepted for filing pursuant to an arrangement agreement dated June 30, 2014 (the "Arrangement") between the Company and Mapan Energy Ltd. ("Mapan"), an arm's length, private oil and gas company whereby the Company will acquire all of the issued and outstanding shares of Mapan by way of a court approved plan of arrangement. Under the terms of the Arrangement, shareholders of the Mapan will receive 12 common shares ("Shares") of the Company for each common share of the Mapan held. Accordingly, 839,324,412 Shares were issued at a deemed price of $0.1667 per Share pursuant to the Arrangement. The Company will remain classified as an "Oil and Gas Exploration and Production" company.
Escrowed: 57,300,012 common shares
Escrow Term: 3 years
Approval of the Arrangement was obtained from the Company via written consent of shareholders holding greater that 50% of the issued and outstanding as of June 30, 2014. For further information please refer to the Company's news releases dated July 2, 2014 and July 31, 2014.
Effective at the open on Wednesday, August 6, 2014, trading in the Company's shares will resume.
________________________________________
|
|
