OCTANT ENERGY CORP. ("OEL.H")
[formerly Octant Energy Corp. ("OEL")]
BULLETIN TYPE: Property-Asset or Share Disposition Agreement, Transfer and New Addition to NEX, Symbol Change
BULLETIN DATE: April 8, 2015
TSX Venture Tier 2 Company
Property-Asset or Share Disposition Agreement
TSX Venture Exchange has accepted for filing documentation pursuant to the Purchase and Sale Agreement (the "Agreement") between the Company and an arm's length company (the "Purchaser"), pursuant to which the Company will sell certain oil and gas assets located in southeast Saskatchewan (the "Assets") to the Purchaser. Under the terms of the Agreement, the Purchaser will acquire the Assets for cash consideration of $1,750,000.
Insider / Pro Group Participation: None
Transfer and New Addition to NEX, Symbol Change
In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective Thursday, April 9, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Calgary to NEX.
As of Thursday, April 9, 2015, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from OEL to OEL.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
The Company is classified as an 'Oil and Gas Exploration and Development' company.
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