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Surge Energy and Longview Oil Corp complete previously announced $430 mln strategic business combination

Thursday, 5 Jun 2014 02:10pm EDT 

Surge Energy Inc:Says the company and Longview Oil Corp have completed their previously announced business combination whereby Surge has acquired all of the issued and outstanding common shares of Longview pursuant to an arrangement under the Business Corporations Act.Under the Arrangement, which was approved by Longview shareholders by a 99.9 pct majority, Longview shareholders received 0.975 of a Surge common share for each Longview common share resulting in the issuance of about 38 million.In addition, it assumed $155 million of Longview net debt. 

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0.13 +3.32%
19 Dec 2014