RE: Kallisto Energy to Acquire Cumberland Oil
Kallisto Energy takeover of Cumberland Oil
2012-10-12 17:30 ET - Major Transaction Completed
Also Shares Delisted from TSX-V (C-COG) Cumberland Oil & Gas Ltd
The TSX Venture Exchange has accepted for filing documentation pursuant to a court-approved plan of arrangement between Kallisto Energy Corp. and Cumberland Oil & Gas Ltd. Approval of the arrangement was obtained from shareholders of Cumberland at a special meeting of shareholders held on Oct. 10, 2012. Pursuant to the terms of the arrangement, Cumberland shareholders received 0.9180 of a common share of the company for each Cumberland share held. Accordingly, 32,758,204 common shares of the company were issued to Cumberland shareholders pursuant to the arrangement.
Effective at the open on Monday, Oct. 15, 2012, Cumberland Oil & Gas shares will be delisted from trading. Kallisto Energy shares will remain trading. For further information, please refer to the arrangement agreement dated Aug. 15, 2012, and the company's news release dated Oct. 12, 2012.