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Lilis Energy Inc to acquire Shoreline Energy

Thursday, 6 Feb 2014 06:00am EST 

Lilis Energy Inc:Enters into a letter of intent (LOI) to acquire all of the issued and outstanding common shares of Calgary-based Shoreline Energy Corp.Says closing is expected to occur within 90 days.Says the combined entity is expected to continue to trade on NASDAQ under the LLEX symbol.Says under the terms of the LOI, Lilis Energy will issue about 6.7 mln shares at closing to the shareholders of Shoreline Energy, in exchange for all of the issued and outstanding shares of Shoreline Energy.Says the terms of the LOI require that Shoreline Energy will not solicit or initiate any inquiries or discussions regarding any other business combination or sale of assets. 

Company Quote

0.1 +13.51%
18 Dec 2014