Manitok Energy Inc. (
TSX: V.MEI,
MKRYF,
Stock Forum) and
Questfire Energy Corp. (
TSX: V.QA,
Forum) released an update Friday on a previously announced plan of arrangement that would see Manitok acquiring all of the issued and outstanding shares of Questfire in a deal worth $55.4 million.
Manitok and Questfire are continuing to progress the transaction towards an anticipated closing on or before October 31, 2017, the companies said in a joint press release.
More information can be found
here.
Manitok was in the news recently when it announced that it had
completed the acquisition of natural gas production and a related strategic pipeline system from an Alberta-based oil and gas company. The company also reported a year-over-year production increase of 39%.
Full Disclosure: Manitok Energy Inc.
is a paid client of Stockhouse Publishing.