Decklar Resources acquisition of Purion Energy 2021-08-10 16:58 ET - Acquisition
The TSX Venture Exchange has accepted for expedited filing a share purchase agreement dated July 14, 2021, between Francis Akinlotan and Babatunde Bello (the vendors), Purion Energy Ltd., and Decklar Resources Inc., whereby the vendors own shares of Purion, and the company may purchase all the issued and outstanding shares of Purion, a Nigerian entity.
Under the terms of the agreement, the acquisition will be satisfied vis the issuance of 3.75 million common shares of the company to the vendors at a deemed price of $1.
A further 1.75 million common shares may be issued to the vendors in the event Purion enters into a risk service agreement with Suffolk Petroleum Ltd. Any issuance of shares relating to the future consideration shares is subject to prior written approval of the exchange at the time it becomes payable.
For further details, please refer to the company's news release dated July 14, 2021.