Deals - Acquisition, Mergers, Divestitures
Crown Point Announces Completion of Acquisition of Antrim Argentina S.A.
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Crown Point Ventures Ltd. ("Crown Point") (TSX-V: CWV), an Argentine focused exploration and production company, is pleased to announce the completion of Crown Point's previously announced acquisition of Antrim Energy Inc.'s ("Antrim") wholly owned subsidiary, Antrim Argentina S.A. ("Antrim Argentina") pursuant to an arrangement under the Business Corporations Act (Alberta) (the "Arrangement").
Under the terms of the Arrangement, Antrim received a cash payment of approximately CDN$9.25 million and was issued 35,761,307 shares of Crown Point (the "Crown Point Arrangement Shares"). The Crown Point Arrangement Shares will be distributed by Antrim to shareholders of record on June 4, 2012 on a pro rata basis. Crown Point now has approximately 104.5 million shares outstanding, approximately…
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