VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2015) - EnerGulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT:EKS) ("EnerGulf") is pleased to announce that it has completed the acquisition of Columbus Copper Corporation ("Columbus Copper") by way of a previously announced plan of arrangement. Columbus Copper is now a wholly-owned subsidiary of EnerGulf.
The arrangement was approved by the shareholders of Columbus Copper at its meeting held on September 25, 2015. A final order was granted on September 29, 2015 by the Supreme Court of British Columbia approving the arrangement.
As a term of the arrangement agreement, Robert Giustra was appointed as a Director of EnerGulf on closing, along with the appointments of Akbar Hassanally as Chief Financial Officer, Jenna Virk as VP, Legal and Corporate Secretary and Jorge Martinez as VP, Communications and Technology. Anu Dhir resigned as a Director of EnerGulf effective on closing. EnerGulf thanks Ms. Dhir for her contributions to the company and wishes her well in her future endeavours.
The Arrangement
Pursuant to the arrangement, each outstanding common share of Columbus Copper was exchanged for 0.4937 of an EnerGulf common share. Following closing of the arrangement, EnerGulf has a total of 92,601,031 common shares issued and outstanding.
Columbus Copper shareholders are asked to complete the exchange of their Columbus Copper shares by completing and returning the Letter of Transmittal delivered to them to the depository for the arrangement, Computershare Investor Services Inc. Columbus Copper shareholders who have questions or need assistance with completing their Letters of Transmittal are requested to contact Computershare directly at:
North American Toll Free Line: 1-800-564-6253
Email: corporateactions@computershare.com
Full details concerning the arrangement can be found in the Management Information Circular of Columbus Copper dated August 19, 2015 and filed under Columbus Copper's profile on SEDAR at www.sedar.com.
About EnerGulf
EnerGulf is a publicly traded international oil and gas exploration company with property interests located in Democratic Republic of Congo and the Republic of Namibia.
On Behalf of the Board of EnerGulf,
John D. Elmore Director & President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.