Business
Pinnacle re-negotiates Aerofoam deal
Pinnacle re-negotiates Aerofoam deal.
About this update from Maverick Energy Group, Ltd.
[{"type":"text","content":"\r\nThe Company after re-negotiations with the major shareholder and management of Aerofoam Metals Incorporated (\"Aerofoam\") have an agreement in principle.\r\n\r\nThe parties have entered into a binding letter of intent, whereby, Pinnacle will acquire all of the issued and outstanding shares of Aerofoam for new Treasury Shares of Pinnacle. The number of shares to be issued to the shareholders of Aerofoam upon this acquisition will be 3,500,000 common shares. The major shareholder of Aerofoam who beneficially owns 56% of all the issued and outstanding shares of Aerofoam has agreed to vote his shares in favor of this acquisition. \r\n\r\nThe parties hereto further agree to enter into a binding Shareholders Agreement immediately and to hold a special shareholder meeting to ratify the acquisition within 60 days of signing this letter of intent.\r\n\r\nFor further information on Aerofoam please refer to their web site at www.aerofoammetals.com.\r\n\r\n\r\n \r\n","length":954,"tagName":"div"}]