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Ranger Energy Blackhawk Resource sign deal tomerge (Ranger-Blackhawk)
CALGARY _ Ranger Energy Ltd. (TSXV:RGG.H) andBlackhawk Resource Corp. (TSXV:BLR) have signed a non-binding letter ofintent to merge.
The companies announced Tuesday they would mergeinto a new energy player focused on the Viking and Sparky oilexploration areas of Alberta.
Under terms of the transaction,each shareholder of both Ranger and Blackhawk will get one share of thenew company for every share they hold of either Ranger or Blackhawk.
Inanother development, Ranger said it has signed two separate bindingletters of intent with an Alberta based private company to acquireexploration rights in the Cardium and Viking resources plays in Alberta.
Thepricetag of the deal is just under $5.5 million.
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