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Condor Petroleum to Acquire Marsa Energy Inc.

Condor Petroleum Marsa Energy Inc
AnnouncedJan 8, 2016
TypeCorporate
LocationTurkey/Dadas
Announced Date
January 08,2016
Close Date
March 24,2016
Transaction Type
Corporate




Snapshot
Asset/Basin:
{"Thrace Basin"}
TargetZones:
{Eocene}
Location
Region
Middle East

Country
Turkey

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Condor Petroleum Inc. and Marsa Energy Inc. have entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets. The acquisition will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta).

Pursuant to the Arrangement Agreement, all of the issued and outstanding common shares of Marsa will be exchanged for common shares of Condor based on an exchange ratio of 1.84326 Condor Shares for each Marsa Share held. Based on Condor and Marsa's respective 20-day…



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