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Propell Corp Announces Acquisition Of Novas Energy USA Inc


Monday, 4 Feb 2013 08:55pm EST 

Propell Corp announced that it has completed a share exchange agreement with the shareholders of Novas Energy USA Inc. of Houston, Texas, in which Novas became a wholly owned subsidiary of Propell. In the share exchange agreement, Propell exchanged 100,000,000 of its shares of common stock for all of the issued and outstanding shares of Novas. After the consummation of the share exchange, Novas became a wholly owned subsidiary of Propell, and the shareholders of Novas received shares of the common stock representing in the aggregate approximately 56% of the outstanding voting power (including common and preferred shares) of Propell. 

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