One-Page Deal Sheet
Cequence Energy Merges with Open Range Energy Corp
Cequence Energy Ltd. Open Range Energy Corp.
Announced Date
June 01,2012
Close Date
June 01,2012
Transaction Type
Corporate
Enterprise Value (EV)($MM)
103
Asset/Basin:
{"Deep Basin"}
Location
Region
Canada
Country
Canada
Transaction Details: Require Private Equity Subscription
Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) and Open Range Energy Corp. ("Open Range") (TSX: ONR) are pleased to announce they have entered into an arrangement agreement (the "Arrangement Agreement") whereby Cequence has agreed to acquire all of the issued and outstanding common shares of Open Range (the “Arrangement”). Cequence is also pleased to announce that it has entered into agreements with a syndicate of underwriters to issue up to $32 million of equity securities.
The Arrangement, which is highly accretive to Cequence on a cash flow basis, will provide Cequence with a…
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