Merger called off
Ranger Energy, Blackhawk Resource call off merger
Blackhawk Resource Corp (C:BLR)
Shares Issued 55,422,342
Last Close11/10/2010
.145
Thursday November 11 2010 - News Release
Also Ranger Energy Ltd (C:RGG) News Release
Mr. Dave Antony of Ranger reports
RANGER ENERGY LTD. AND BLACKHAWK RESOURCE CORP. ANNOUNCETERMINATION OF ARRANGEMENT AGREEMENT AND RELATED TRANSACTIONS
Ranger Energy Ltd. and Blackhawk Resource Corp. haveterminated the arrangement agreement dated Oct. 12, 2010, pursuant to whichRanger and Blackhawk were to amalgamate. The proposed transaction wasconditional on the completion of a financing in the amount of $15-million priorto Nov. 15, 2010. The directors of each of Ranger and Blackhawk have mutuallyagreed to terminate the proposed transaction.
The annual and special meeting of Ranger shareholders willproceed on Friday, Nov. 12, 2010, at 10 a.m. in order to consider annualbusiness.
The special meeting of the Blackhawk shareholders scheduled tobe held on Nov. 12, 2010, will not proceed and has been cancelled as the onlybusiness to take place at the Blackhawk meeting was the proposedtransaction.