KUB's "Tier 1" tomorrow... TSX bulletin released after today's close, sounds impressive..., not sure it matters.
CUB ENERGY INC. ("KUB")
BULLETIN TYPE: Reverse Take-over Transaction - Completed, Tier Reclassification
BULLETIN DATE: April 23, 2012
TSX Venture Tier 2 Company
Reverse Takeover Transaction:
TSX Venture Exchange has accepted for filing CUB Energy Inc.'s ("the Company") Reverse Take-over Transaction (the "Transaction") described in its Filing Statement dated March 20, 2012.
The transaction consisted of the arm's length acquisition of Gastek LLC ("Gastek") for consideration of 123,278,089 Common Shares of the Company, for a deemed acquisition price of approximately $49 million (not including the Common Shares issuable pursuant to the Private Placement, which are described below).
Pursuant to the transaction, 124,528,089 Common Shares are escrowed pursuant an Exchange Tier 1 Value Escrow Agreement.
For further information about the Name Change and Symbol Change, please refer to the Exchange Bulletin dated January 27, 2012, and for more information about the previously announced and completed Private Placement, please refer to the Exchange Bulletin dated November 24, 2012. The Company has confirmed the closing of the Private Placement pursuant to a news release.
Company Tier Reclassification:
In accordance with Policy 2.5, the Company has met the requirements for a Tier 1 company. Therefore, effective Tuesday, April 24, 2012, the Company's Tier classification will change from Tier 2 to:
Classification
Tier 1
Post - Transaction
Capitalization: unlimited Common Shares with no par value of which
209,030,433 Common Shares are issued and outstanding
Escrow: 124,528,089 Common Shares
Transfer Agent: Equity Financial Trust Company
Trading Symbol: KUB (UNCHANGED)
CUSIP Number: 22944T109 (UNCHANGED)
Company Contact: Mikhail Afendikov, Chairman and CEO
Company Address: 50 Richmond Street East, Suite 101
Toronto, ON M5C 1N7
Company Phone Number: (713) 677-0439
Company Email Address: info@cubenergyinc.com