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CHRONOS RESOURCES LTD. AND SAMOTH OILFIELD INC. ANNOUNCE CLOSING OF TRANSFORMATIVE BUSINESS COMBINATION TO FORM LYCOS ENERGY INC.
CHRONOS RESOURCES LTD. AND SAMOTH OILFIELD INC. ANNOUNCE CLOSING OF TRANSFORMATIVE BUSINESS COMBI...
About this update from Lycos Energy Inc
[{"type":"text","content":"\n \n \n \n CHRONOS RESOURCES LTD. AND SAMOTH OILFIELD INC. ANNOUNCE CLOSING OF TRANSFORMATIVE BUSINESS COMBINATION TO FORM LYCOS ENERGY INC.\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Dec. 12, 2022\n \n \n /CNW/ - Lycos Energy Inc. (\"\n \n Lycos\n \n \") is pleased to announce the completion of the previously announced business combination (the \"\n \n Business Combination\n \n \") among Samoth Oilfield Inc. (predecessor to Lycos) (\"\n \n Samoth\n \n \") (TSXV: SCD), Chronos Resources Ltd. (\"\n \n Chronos\n \n \") and 2470638 Alberta Ltd. pursuant to the policies of the TSX Venture Exchange (the \"\n \n TSXV\n \n \") to form Lycos, an oil-focused, exploration, development and production company. The common shares of Lycos are expected to trade on the TSXV under the new name \"Lycos Energy Inc.\" and the new stock symbol \"LCX\" as a Tier 1 oil and gas issuer at market open on\n \n Thursday, December 15, 2022\n \n , and the common shares of Samoth will be concurrently delisted.\n \n \n Pursuant to the Business Combination, Lycos:\n \n \n \n \n \n \n appointed a new management team led by\n \n Dave Burton\n \n as President and Chief Executive Officer,\n \n Lindsay Goos\n \n as Chief Financial Officer,\n \n Kyle Boon\n \n as Vice President,\n \n Jamie Conboy\n \n as Vice President, Exploration, Operations and\n \n Jeff Rideout\n \n as Vice President, Land. In addition,\n \n Sanjib (Sony) Gill\n \n , a partner in the\n \n Calgary\n \n office of the national law firm Stikeman Elliott LLP, will act as Corporate Secretary;\n \n \n \n \n appointed a new board of directors, comprised of\n \n Dave Burton\n \n ,\n \n Kevin Olson\n \n ,\n \n Ian Atkinson\n \n ,\n \n Ali Horvath\n \n ,\n \n Bruce Beynon\n \n ,\n \n Don Cowie\n \n and\n \n Kel Johnston\n \n .\n \n Neil Roszell\n \n will serve as a Special Advisor to the Board;\n \n \n \n \n acquired all of the issued and outstanding common shares in the capital of Chronos (each, a \"\n \n Chronos Share\n \n \") in exchange for twenty (20) common sha...