RE:anyone find any INFO on the rights offering yet Altura confirms that it intends to conduct the previously announced rights offering by way of a rights offering circular which will be mailed to all shareholders as of the record date for the offering. Pursuant to the offering, each shareholder will be issued one right for each common share held as of the record date (except those acquired in connection with the non-brokered private placement or brokered private placement). Each eight rights held will entitle that holder to purchase one common share at an exercise price of 18 cents per common share at or before the expiry of time of the offering, following which all outstanding rights shall terminate and expire. There will be no backstop or standby commitment for the offering and shareholders will not be offered an additional subscription privilege.
Altura confirms that it intends to change its name to Tenaz Energy Corp. and will begin trading under the stock ticker TNZ concurrently with the change of name. The company also intends to complete a consolidation of the common shares on up to a 1:10 basis to take place following completion of the offering. The change of name and share consolidation were approved by Altura shareholders at the special meeting of shareholders held yesterday. The offering, name change and share consolidation remain subject to applicable regulatory approval, including from the TSX Venture Exchange.