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Ironhorse Oil & Gas Inc. and Pond Technologies Inc. Jointly Announce Proposed Business Combination and a Private Placement by Pond
Ironhorse Oil & Gas Inc. and Pond Technologies Inc. Jointly Announce Proposed Business...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. Jointly Announce Proposed Business Combination and a Private Placement by Pond\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.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. Jointly Announce Proposed Business Combination and a Private Placement by Pond\nCanada NewsWire\nCALGARY, Aug. 14, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\n\nCALGARY, Aug. 14, 2017 /CNW/ - Ironhorse Oil & Gas Inc. (\"Ironhorse\") (TSXV:IOG) and Pond Technologies Inc. (\"Pond\") are pleased to announce that they have entered into an arms-length non-binding letter of intent dated August 14, 2017 pursuant to which Ironhorse and Pond propose to complete a business combination by way of take-over bid (the \"Proposed Transaction\"). Pursuant to the Proposed Transaction, Ironhorse will offer to purchase all of the common shares of Pond (\"Pond Shares\") in exchange for common shares of Ironhorse (\"Ironhorse Shares\") issued from treasury. Holders of Pond Shares will receive 6.9 Ironhorse Shares for each 1 Pond Share held resulting in the issuance of approximately 79,289,591 Ironhorse Shares at a deemed issued price of $0.29 per Ironhorse Share for aggregate ascribed value of approximately $23 million. The Proposed Transaction will constitute a reverse-takeover and change of business of Ironhorse pursuant to the policies of the TSX Venture Exchange (the \"TSXV\") and is subject to the acceptance of the TSXV and the approval of the holders of Ironhorse Shares. \n\nFollowing the completion of the Propos...