Taipan Resources Inc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Taipan Resources Inc Completes Takeover Of Lion Petroleum-Canada Stockwatch News
Canada Stockwatch News reported that the common shares of the Taipan Resources Inc. have been halted from trading since June 28, 2012, pending completion of a reverse takeover. The TSX Venture Exchange has accepted for filing the Company's reverse takeover (RTO) described in its filing statement dated July 11, 2012. The RTO includes the following matters, all of which have been accepted by the exchange: The Company entered into an amalgamation agreement dated June 13, 2012, between the Company, 0942929 B.C. Ltd. (the Company's wholly owned subsidiary, hereinafter referred to as Newco), and Lion Petroleum Corp. (a privately held British Columbia company, hereinafter referred to as the target), pursuant to which: the target and Newco will amalgamate to form Amalco; the Company will issue 20,124,817 common shares to the shareholders of the target; and the Company will acquire all of the issued and outstanding Amalco shares. Upon completion of the RTO, Amalco will be a wholly owned subsidiary of the Company. The exchange has been advised that the above transactions, approved by the majority of shareholders via consent resolutions on July 16, 2012, have been completed.
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