Canamax, Powder Mountain Close Business Combination

Canamax Energy Ltd closed the acquisition of the issued and outstanding common shares of Powder Mountain Energy Ltd through a plan of arrangement under the Alberta Business Corporations Act. The total consideration price was CA$27.6 million. This was based on Powder's CA$21.7 million estimated...

Full description

Saved in:
Bibliographic Details
Published inOil and Gas Investor This Week Vol. 23; no. 31; p. 8
Main Author Anon
Format Journal Article Trade Publication Article
LanguageEnglish
Published Houston Hart Energy 01.08.2015
Subjects
Acquisitions & mergers
Alberta
Business
Business combinations
Corporate presidents
Directors
Energy
Land
Marketing
Meetings
Mountains
Natural gas
Petroleum industry
Reserves
Stockholders
Working capital
Canada, Alberta
Canada
Online AccessGet full text

Cover

More Information
Summary:Canamax Energy Ltd closed the acquisition of the issued and outstanding common shares of Powder Mountain Energy Ltd through a plan of arrangement under the Alberta Business Corporations Act. The total consideration price was CA$27.6 million. This was based on Powder's CA$21.7 million estimated working capital surplus and the CA$5.9 million attributed value of Powder's existing lands, production and reserves. The business combination was approved at the July 29 special meeting of Powder shareholders. The Court of Queen's Bench of Alberta approved the arrangement on July 30.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 23
ISSN:1940-5189
1940-5197