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Manitok Energy Inc (MEI.V)

MEI.V on TSX Venture Exchange

0.06CAD
23 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Manitok Energy and Corinthian Oil Corp enter into definitive amalgamation agreement
Wednesday, 13 Sep 2017 07:31am EDT 

Sept 13 (Reuters) - Manitok Energy Inc :Manitok Energy Inc. and Corinthian Oil Corp. enter into definitive amalgamation agreement.Manitok energy inc - ‍ alberta inc., a wholly owned subsidiary of manitok to acquire all of issued and outstanding shares of corinthian​.Manitok Energy Inc - entered into definitive amalgamation agreement with Corinthian Oil Corp and 2065718 Alberta Inc., a unit of manitok.Manitok Energy Inc - to acquire all of issued and outstanding shares of corinthian.Manitok Energy - deal to be structured as three-cornered amalgamation pursuant to which manitok to acquire all of issued, Corinthian common shares​.Manitok - aggregate of‍ $3.1 million Manitok shares are being issued to holders of corinthian shares at deemed price of $0.07/Manitok share​ as part of deal.  Full Article

Manitok Energy Q2 loss per share $0.03
Wednesday, 30 Aug 2017 07:30am EDT 

Aug 30 (Reuters) - Manitok Energy Inc :Manitok Energy Inc announces financial results for the second quarter of 2017.Qtrly ‍average production increased by 55%, year over year, to 5,556 boe/d.Manitok Energy Inc - qtrly‍ average production increased by 55%, year over year, to 5,556 boe/d (38% light oil and liquids).Manitok Energy Inc qtrly loss per share $0.03.Qtrly ‍petroleum and natural gas revenue $15.35 million versus $8.85 million.Manitok Energy Inc - ‍recorded negative funds from operations of $0.1 million in Q2 2017 versus negative funds from operations of $0.2 million in Q2 2016​.  Full Article

Questfire Energy announces shareholder and final court approval of strategic combination with Manitok Energy
Tuesday, 22 Aug 2017 08:28pm EDT 

Aug 22 (Reuters) - Questfire Energy Corp :Questfire Energy Corp announces shareholder and final court approval of strategic combination with Manitok Energy Inc.Questfire was granted a final order approving acquisition by Court of Queen's Bench of Alberta on August 21, 2017.  Full Article

Manitok Energy and Questfire Energy announces results of interim order application on strategic combination
Wednesday, 19 Jul 2017 07:30am EDT 

July 19 (Reuters) - Manitok Energy Inc :Manitok Energy Inc. and Questfire Energy Corp. announces results of interim order application on previously announced strategic combination.Manitok Energy Inc- ‍on july 7 questfire been granted interim order authorizing holding of an annual and special meeting of holders of Questfire shares​.Manitok Energy Inc- at questfire meeting, Questfire shareholders will be asked, among other things, to approve acquisition​.  Full Article

Manitok Energy announces strategic combination with Questfire Energy
Friday, 7 Jul 2017 07:00am EDT 

July 7 (Reuters) - Manitok Energy Inc :Manitok Energy Inc announces strategic combination with Questfire Energy Corp, to form Canada's newest intermediate energy producer with greater than 10,000 boe/d of production.Manitok Energy Inc - aggregate transaction value is approximately $55.4 million.Manitok Energy Inc - Questfire shareholders will receive, for each Questfire share held, 2.25 Manitok common shares.Manitok Energy - agreement provides for non-completion fees of $2.0 million in event that deal not completed or terminated by either party.Manitok Energy says upon completion of acquisition, Manitok and Questfire shareholders will hold approximately 86% and 14% of pro forma shares.Manitok Energy Inc - in final stages of negotiating a new credit facility with lenders in connection with obtaining a new $132.2 million credit facility.Manitok Energy Inc - following completion of acquisition, co's current board of directors and management team will manage pro forma resulting issuer.Manitok Energy Inc - board of Questfire has approved acquisition.Says acquisition is expected to decrease combined entity's corporate cost structure through cost savings.  Full Article

Manitok Energy Inc qtrly FFO per share $0.01
Wednesday, 31 May 2017 07:30am EDT 

May 31 (Reuters) - Manitok Energy Inc ::Manitok Energy Inc announces financial results for the first quarter of 2017.Manitok Energy Inc says average production increased by 43% to 6,300 boe/d in Q1 of 2017.Manitok Energy Inc qtrly loss per share $0.01.Manitok Energy Inc qtrly FFO per share $0.01.  Full Article

Manitok Energy Inc reports Q3 net loss per share $0.02
Wednesday, 30 Nov 2016 07:30am EST 

Manitok Energy Inc - : Manitok Energy Inc announces financial and operational results for the third quarter of 2016 . Quarterly production averaged 4,276 boe/d as compared to 3,587 boe/d in Q2 of 2016 . Quarterly net loss per share - basic and diluted $0.02 .Quarterly petroleum and natural gas revenue $11.5 million versus $14.6 million.  Full Article

Manitok Energy Inc announces asset acquisition for $13.5 mln
Thursday, 29 Sep 2016 11:39pm EDT 

Manitok Energy Inc : Manitok energy inc. Announces a significant asset acquisition and a $20.0 million offering of units consisting of collateralized exchange listed notes(tm) and warrants . Acquisition is expected to provide manitok with a 37% increase to its anticipated corporate production for november 2016 .Total consideration for acquisition is $13.5 million before closing adjustments, payable in a combination of cash and units.  Full Article

Manitok Energy Inc Qtrly funds from operations of negative $0.2 mln
Monday, 29 Aug 2016 07:00am EDT 

Manitok Energy Inc : Manitok Energy Inc. announces financial results for the second quarter of 2016 and an operational update . Qtrly funds from operations of negative $0.2 million as compared to $0.7 million in the first quarter of 2016 .Qtrly production averaged 3,587 BOE/D as compared to 4,407 BOE/D in the first quarter of 2016.  Full Article

Manitok Energy to acquire Raimount Energy
Wednesday, 29 Jun 2016 05:41pm EDT 

Manitok Energy Inc : Manitok will acquire, indirectly through Acquireco, all of issued and outstanding common shares of Raimount . Renewed its credit facility at $45 million, which is $5 million lower than its previous credit facility . Required to reduce credit facility by $300,000 per month beginning on june 1, 2016 . Each raimount shareholder will receive 6 shares, 1.5 share purchase warrants in capital of manitok for each raimount common share held . After closing of arrangement agreement & offering co anticipates to be drawn by about $37 million on credit facility on Aug. 31, 2016 .Brokered subscription receipt private placement.  Full Article

BRIEF-Manitok Energy Inc buys Corinthian Oil Corp

* Manitok Energy Inc acquires Corinthian Oil Corp Source text for Eikon: Further company coverage: