Wolverine Energy and Infrastructure Inc V.WEII.H

RE:Deal

[euromo]

Yes it is!! this is from march 10,2016 nr. don't let them have your shares. btw it is not complicated in Morocco to get the licences. TORONTO, CANADA--(Marketwired - March 10, 2016) - PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the "Company" or "PetroMaroc"), is pleased to announce that, further to its announcement of January 26, 2016, it has signed a binding sale and purchase agreement (the "Sale & Purchase Agreement") with Sound Energy plc (AIM:SOU) ("Sound Energy"), on the Sidi Moktar Licences located in Morocco. Pursuant to the Sale & Purchase Agreement, Sound Energy will acquire PetroMaroc's 50% working interest in the Sidi Moktar Licenses in consideration for (i) issuance to PetroMaroc of 21,258,008 ordinary shares in the capital of Sound Energy; and (ii) granting to PetroMaroc of (a) a 10% net profit interest in any future cash flows from the Kechoula structure within the Sidi Moktar Licences; and (b) a 5% net profit interest in any future cash flows from structures within the Sidi Moktar Licences other than the Kechoula structure. Completion of the transaction is subject to a number of conditions precedent, including Ministerial approvals in Morocco and a final approval of the TSXV Venture Exchange. Completion will also result in release of the Sidi Moktar Bank Guarantee restricted cash, which is currently held in escrow. Read more at https://www.stockhouse.com/news/press-releases/2016/03/10/petromaroc-signs-sale-and-purchase-agreement-with-sound-energy-plc-on-sidi#ZhE3hxTdB7PmJGv2.99