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| Home : Mart Enters Into Arrangement Agreement With Delta Oil |
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Oct 17
2015 |
Mart Enters Into Arrangement Agreement With Delta Oil |
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CALGARY, ALBERTA--(Marketwired - Oct. 16, 2015) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announces that it has entered into an arrangement agreement (the "Arrangement Agreement") with Delta Oil Nigeria B.V. ("Delta"). Under the terms of the Arrangement Agreement, an indirect wholly-owned subsidiary of Delta will acquire all of the issued and outstanding common shares of Mart by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement") Each Mart shareholder will receive CAD$0.35 in exchange for each Mart common share held (the "Per Share Consideration") for aggregate consideration of all Mart shares of approximately CAD$124.92 million. At closing, Mart is expected to have approximately US$200.5 million of outstanding bank debt. |
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| Source:http://www.marketwired.com/mw/release.do?id=2064530&sourceType=3 |
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