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MATRRIX Energy Technologies Inc. Completes Acquisition of Stampede Drilling Ltd. and Concurrent Private Placement
MATRRIX Energy Technologies Inc. Completes Acquisition of Stampede Drilling Ltd. and Concu...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\nMATRRIX Energy Technologies Inc. Completes Acquisition of Stampede Drilling Ltd. and Concurrent Private Placement\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\nCanada NewsWire\nCALGARY, Nov. 21, 2017\n\n\n\nCALGARY, Nov. 21, 2017 /CNW/ - MATRRIX Energy Technologies Inc. (\"MATRRIX\" or the \"Corporation\") (TSXV: MXX) is pleased to announce that it has successfully completed its previously announced acquisition (the \"Acquisition\") of Stampede Drilling Ltd. (\"Stampede\"). \n\nMATRRIX has taken up and paid for 14,600,000 Class A common shares (\"Class A Shares\") and 3,000,000 Class B common shares (\"Class B Shares\") of Stampede that were tendered to MATRRIX's Offer to Purchase (the \"Offer\"), representing 97.33% of the Class A Shares and 100% of the Class B Shares. MATRRIX has acquired the remaining 400,000 outstanding Class A Shares pursuant to the compulsory acquisition provisions of The Business Corporations Act (Saskatchewan). An aggregate of 22,580,640 common shares of MATRRIX (\"MATRRIX Shares\") were issued to former shareholders of Stampede under the Offer on the basis of 1.25448 MATRRIX Shares for each Class A Share and 1.25448 MATRRIX Shares for each Class B Share.\n\nMATRRIX is also pleased to announce that it has closed its previously announced private placement (the \"Private Placement\") of MATRRIX Shares on a \"best efforts\" agency basis at a price of $0.31 per MATRRIX Share. Under the Private Placement, the Corporation issued 64,520,000 MATRRIX Shares for aggregate consideration of $20,001,200.\n\nLightyear Capital Inc. (\"Lightyear\") acted as the exclusive financial agent for the Private Placement. In connection with the Private Placement, MATRRIX paid Lightyear a cash commission of $964,454 and 3,111,143 options (the \"Agent's Options\") in consideration of the services performed by Lightyear under the Private Placement. Each Agent's Option entitles Lightyear to purchase one MATRRIX Share at a price of $0.31 per share until November 21, 2018.\n\nAll of the securities issued in connection with the Private Placement, including the ...