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Bankers Petroleum Announces Investment Canada Act Approval for Proposed Arrangement
Bankers Petroleum Announces Investment Canada Act Approval for Proposed Arrangement ...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\n\n\n\nBankers Petroleum Announces Investment Canada Act Approval for Proposed Arrangement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nBankers Petroleum Announces Investment Canada Act Approval for Proposed Arrangement\nCanada NewsWire\nCALGARY, June 22, 2016\n\n\n\nCALGARY, June 22, 2016 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the \"Company\") (TSX: BNK, AIM: BNK) is pleased to announce that the proposed plan of arrangement (the \"Arrangement\") with affiliates of Geo-Jade Petroleum Corporation (\"Geo-Jade\") has received Ministerial approval under the Investment Canada Act.  Pursuant to the Arrangement, Geo-Jade will acquire all the issued and outstanding common shares of Bankers (\"Bankers Shares\") through its affiliates at a cash price of C$2.20 per Bankers Share.   \n\nCompletion of the Arrangement is subject to the outstanding regulatory approval of the Chinese State Administration of Foreign Exchange (SAFE).  Bankers anticipates receipt of this approval in the coming weeks and closing of the Arrangement to occur shortly thereafter in July.  Following a successful completion of the Arrangement the Bankers Shares will be delisted from the Toronto Stock Exchange (\"TSX\") and the AIM market of the London Stock Exchange.\n\n------------\n\nAbout Bankers Petroleum Ltd.\n\nBankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves in Albania and Eastern Europe.  In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova oilfield, and a 100% interest in Exploration Block \"F\".  In 2015 Bankers acquired an 85% interest in the rights to explore the Püspökladány Block concession within the Pannonian Basin located in north eastern Hungary.  The Bankers Shares are traded on the TSX and the AIM Market in London, England under the stock symbol BNK.\n\nCaution Regarding Forward-looking Information \n\nCertain...