One-Page Deal Sheet
Paleo Resources Acquires Financial Tech Firm EF Resources
Energy Funders EF Resources Inc.
Announced Date
December 19,2019
Close Date
February 27,2020
Transaction Type
Corporate
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Paleo Resources, Inc. has signed a deal to acquire EF Resources Inc., who owns the EnergyFunders financial technology platform.
Transaction terms were not disclosed.
The transaction has been unanimously approved by the board of directors of both Paleo and EFR. Paleo shareholders and EFR shareholders will hold, on a fully diluted basis, 75% and 25% of the total issued common shares of Paleo, respectively.
Upon closing of the transaction, expected to be on or before February 27, 2020, Jeff Harder, the Chairman of EFR will join the Board of Paleo. Post-merger, EFR will continue to be led by…
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