Business
Shell Canada Acquires 92.8% of BlackRock Ventures and Extends Offer to June 27, 2006
Shell Canada Acquires 92.8% of BlackRock Ventures and Extends Offer to June 27, 2006.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, June 16 /CNW/ - Shell Canada Limited (TSX:SHC) announced today\nthat as of 1:01 a.m. on June 16, 2006, approximately 99,778,511 common shares\nof BlackRock Ventures Inc. (TSX:BVI) have been validly deposited to the offer\nby BR Oil Sands Corporation, a wholly-owned subsidiary of Shell Canada, to\nacquire all of the common shares of BlackRock (including common shares\nissuable upon the exercise or surrender of any options or conversion of any\nconvertible debentures). BR Oil Sands Corporation has taken up all such\nshares, which represent approximately 92.8% of the common shares of BlackRock\non a fully-diluted basis, and will pay for such shares on June 21, 2006.\nAs a result of today's announcement, Shell Canada, through its\nwholly-owned subsidiary BR Oil Sands Corporation, has now declared its offer\nto acquire the common shares of BlackRock to be wholly unconditional.\nBR Oil Sands Corporation has also extended its offer until 1:01 a.m.\n(Calgary time) on June 27, 2006 to allow BlackRock shareholders an additional\nopportunity to tender their shares, including shares issuable on the\nconversion of the convertible debentures, to its offer. A notice of extension\nwill be mailed to BlackRock shareholders in the coming days.\nUpon completion of a compulsory acquisition or subsequent acquisition\ntransaction, BR Oil Sands Corporation intends to de-list the BlackRock shares\nfrom the Toronto Stock Exchange and cause BlackRock to apply to securities\nregulatory authorities to cease to be a reporting issuer. Shareholders are\nencouraged to tender their remaining BlackRock common shares, including shares\nissuable on the conversion of the convertible debentures, to the offer as soon\nas possible, and in any event prior to June 27, 2006, to receive prompt\npayment.\n\nShell Canada Limited\n\nShell Canada is a large Canadian integrated petroleum company with three\nmajor businesses. Exploration & Production explores for, produces and markets\nnatural gas and natural gas liquids. Oil Sands is responsible for an\nintegrated bitumen mining and upgrading operation in the Athabasca area of\nAlberta and the company's Peace River in situ bitumen business. Oil Products\nmanufactures, distributes and markets refined petroleum products across\nCanada.\n\nBlackRock Ventures Inc.\n\nBlackRock Ventures is an oil sands produce...