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Anglo Canadian to merge with Tallgrass

2012-09-11 12:31 ET - News Release

 

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Mr. Jim Ehret reports

TALLGRASS ENERGY CORP. AND ANGLO CANADIAN OIL CORP. ANNOUNCE SIGNING OF DEFINITIVE AGREEMENT

Anglo Canadian Oil Corp. and Tallgrass Energy Corp. have entered into a definitive arrangement agreement effective Sept. 10, 2012, to effect a strategic business combination by way of amalgamation, resulting in the formation of an approximately 600-barrel-of-oil-equivalent-per-day (72-per-cent-oil-plus-natrual-gas-liquids), light-oil focused, growth-oriented junior exploration and production company with a large land base of approximately 440 undeveloped sections. The amalgamation is subject to shareholder and regulatory approval and satisfaction of all conditions of the arrangement agreement.

A joint information circular is anticipated to be mailed to the shareholders of Tallgrass and Anglo in September, 2012, in connection with a meeting of such shareholders expected to be held in October or early November, 2012, with closing of the amalgamation expected to take place shortly thereafter. The transaction will be completed by way of a plan of arrangement whereby Anglo and Tallgrass will amalgamate to form an amalgamated entity (New Tallgrass) to be renamed Tallgrass Energy Corp.