Business
NWest Energy Corp. Announces Intention to make an Offer to Acquire Bird River Resources Inc.
(via Thenewswire.ca) Halifax, Canada / TNW-ACCESSWIRE / September 8, 2014 / Nwest Ener...
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[{"type":"text","content":"NWest Energy Corp. Announces Intention to make an Offer to Acquire Bird River Resources Inc.(via Thenewswire.ca)\n \n \nHalifax, Canada / TNW-ACCESSWIRE / September 8, 2014 / Nwest Energy Corp. (TSXV: NWN) (the \"Company\") announces today that it intends to make an offer to acquire all of the outstanding common shares of Bird River Resources Inc. (CSE: BDR) (\"Bird River\"). \n\n \n \nPursuant to the proposed offer, Bird River shareholders will be entitled to receive one common share of the Company for each Bird River common share validly tendered to the proposed offer. \n\n \n \nThe intention to make an offer to acquire all of the outstanding common shares of Bird River follows a strategic review by the Company to evaluate oil and gas opportunities. \n\n \n \nCommenting on the Offer, Kevin Aylward, the Chief Executive Officer and President of the Company, said:\n\n\n \n\"The proposed offer will result in substantial benefit to both the company and Bird River and their respective shareholders by streamlining the cost-structure of two entities into a single entity under the guidance of a seasoned executive team that has a forward vision. An experienced board of directors will progressively move the company forward under a well-founded solid business plan with a strengthened balance sheet to support growth strategies. We believe strongly in the prospects of a combination for our two companies, which are highly complementary and which is expected to provide greater liquidity for both shareholder bases.\"\n\n \n \nShould a takeover bid be commenced, full details of the offer will be included in a formal offer and the take-over bid circular to be filed with securities regulatory authorities and mailed to Bird River shareholders. The Company expects to mail the offer and take-over bid circular to Bird River shareholders as soon as practicable and in any event prior to September 30, 2014. The offer will remain open for at least 35 days following the commencement of the offer.\n\n \n \nThe offer will be subject to certain conditions, including, but not limited to, receipt of all necessary regulatory clearances, absence of material adverse changes in Bird River and acceptance of the offer by Bird River shareholders owning not less than 662/3% of the Bird River common shares on a fully-diluted basis. Once the 662/3% acceptance level is m...