GREY:BXEFF - Post by User
Comment by
BobTheKnob2on Sep 19, 2016 6:49pm
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Post# 25253796
RE:Asset sale
RE:Asset saleI see the news that Bellatrix is selling a portion of their Pembina properties for a combination of cash ($42MM) and $5MM of shares in a private company (16,666,666 shares of InPlay Oil Corp.) that is contemplating a reverse takeover of a TSE listed company.
There is news out about this.
InPlay is taking over Anderson Eploration (T.AND). It appears as if this will be moving forward quickly. Based on the amending formula, each old Anderson share will exchange at 1 for 1 new InPlay share. Each old InPlay share (which by the sounds of the press release, Bellatrix received) will exchange for a New InPlay share where they will exchange at 1 old for 0.1303 new InPlay.
What that means is thtt Bellatrix will receieve 2,171,666 +/- shares in the new Anderson Exploration/InPlay in addition to the cash.