News on strategic review. See below
12:48 PM EDT, 10/28/2019 (MT Newswires) -- BNK Petroleum (BKX.TO) on Monday said a strategic review has not yet yielded an acceptable offer for the oil producer but it is continuing with the process.
The company said in a release a number of interested parties signed confidentiality agreements to review its corporate data but "currently has not been provided transaction terms that the board of directors determined to be in the best interests of BNK and its shareholders".
"Our efforts to identify and evaluate strategic options are ongoing," David Neuhauser, chair of the special board committee overseeing the review said in the release. "Meanwhile, the company continues to generate positive cash flow and remains focused on its business plan of increasing production and cash flows to unlock value for shareholders."
BNK shares were last seen unchanged at C$0.10 on the Toronto Stock Exchange after on Friday touching a 52-week low of C$0.095.
Price: 0.10, Change: 0.00, Percent Change: 0.00
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