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CUB Energy Inc Completes Strategic Ukraine Acquisition

Monday, 3 Jun 2013 07:15am EDT 

CUB Energy Inc announced that it completed the acquisition of a private Ukrainian oil and gas exploration company initially announced on March 8, 2013. The assets of the acquired company consist of approximately 70,000 gross acres of undeveloped land and have the net effect of increasing Cub's aggregate licence position in Ukraine to approximately 244,000 gross (180,000 net) acres. As consideration for the acquisition, Cub issued 55,555,555 common shares to the private company's two shareholders. One now owns 44,444,444 common shares of Cub, representing 14.92% of Cub's outstanding common shares. 

Company Quote

-0.0050 -6.67%
11:30am EDT