One-Page Deal Sheet
Tourmaline Inks M&A Deal with Alberta-Based Santonia Energy
Tourmaline Oil Corp. Santonia Energy Inc.
Announced Date
March 04,2014
Transaction Type
Corporate
Transaction Details: Require Private Equity Subscription
Tourmaline Oil Corp. has entered into an agreement with Santonia Energy Inc. pursuant to which Tourmaline will acquire all of the issued and outstanding common shares of Santonia on the basis of 0.03012 of a Tourmaline common share for each Santonia common share.
The acquisition will be effected by statutory plan of arrangement.
Based on the five day volume weighted average trading price of the Tourmaline common shares on the TSX, the deemed acquisition price is approximately $189.1 million, comprised of the issuance of approximately 3.228 million Tourmaline common shares and the assumption…