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Standard Exploration Ltd. Announces Conditional Approval of Financing, Gulf Coast States Strategic Acquisition, Consolidation, Appointment of New Management and Board and Name Change
Standard Exploration Ltd. Announces Conditional Approval of Financing, Gulf Coast States S...
About this update from Southern Energy Corp.
[{"type":"text","content":"\n\n\n\nStandard Exploration Ltd. Announces Conditional Approval of Financing, Gulf Coast States Strategic Acquisition, Consolidation, Appointment of New Management and Board and Name Change\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 17, 2018\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 CALGARY, Dec. 17, 2018 /CNW/ - Standard Exploration Ltd. (\"Standard\" or the \"Corporation\") (SDE: TSXV) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (\"TSXV\") in respect of the previously announced, by way of news release dated November 13, 2018: (i) private placement of common shares (\"Common Shares\") and units of the Corporation; (ii) appointment of a new management team and new board of directors; (iii) the acquisition by the Corporation of the limited partnership units of Gulf Pine Energy Partners, LP; and (iv) the change of name of the Corporation (the \"Name Change\") from \"Standard Exploration Ltd.\" to \"Southern Energy Corp.\" (collectively, the \"Transaction\"). The Corporation will file a filing statement in respect of the Transaction (the \"Filing Statement\") under the Corporation's profile on SEDAR at www.sedar.com. \nThe Common Shares have been halted from trading pursuant to the rules of the TSXV, which is expected to continue until completion of the Transaction and the completion of the Corporation's previously announced consolidation of the Common Shares on the basis of one post-consolidation Common Share for up to every 10 pre-consolidation Common Shares (the \"Consolidation\"). The Consolidation and the Name Change were approved at the Corporation's annual general and special meeting of shareholders held on December 11, 2018.\nThe Transaction is currently scheduled to close on or about December 19, 2018 (\"Closing\") and the Consolidation is expected to be effected promptly upon completion of ...