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VERTEX SIGNS AMALGAMATION AGREEMENT WITH CORDY OILFIELD SERVICES AND ANNOUNCES CONCURRENT FINANCING
VERTEX SIGNS AMALGAMATION AGREEMENT WITH CORDY OILFIELD SERVICES AND ANNOUNCES CONCURRENT...
About this update from Vertex Resource Group Ltd.
[{"type":"text","content":"\n \n \n \n VERTEX SIGNS AMALGAMATION AGREEMENT WITH CORDY OILFIELD SERVICES AND ANNOUNCES CONCURRENT FINANCING\n \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 Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n SHERWOOD PARK, AB\n \n and\n \n CALGARY, AB\n \n ,\n \n Feb. 25, 2022\n \n /CNW/ - (TSXV: VTX) – Vertex Resource Group Ltd. (\"\n \n Vertex\n \n \") and Cordy Oilfield Services Inc.  (TSXV: CKK) (\"\n \n Cordy Oilfield\n \n \") are pleased to announce that they have entered into a definitive amalgamation agreement (the \"\n \n Amalgamation Agreement\n \n \") pursuant to which Vertex has agreed to acquire all of the issued and outstanding shares of Cordy Oilfield.  The acquisition of Cordy Oilfield will increase the strength and service offerings of Vertex across its operations.\n \n \n \n \n \n \n \n \n \n \"This strategic acquisition allows Vertex to compliment multiple offerings within our group. We are excited to bring Cordy under our umbrella, providing customers and employees with a next level experience. Congratulations to the Cordy team on their successes over the years, and we look forward to supporting that continued success,\" said Mr.\n \n Terry Stephenson\n \n , President and Chief Executive Officer of Vertex.\n \n \n The acquisition is structured as a three-cornered amalgamation (the \"\n \n Amalgamation\n \n \") under the\n \n Business Corporations Act\n \n (\n \n Alberta\n \n ) pursuant to which the holders of common shares of Cordy Oilfield (\"\n \n Cordy Shares\n \n \") will receive common shares of Vertex (\"\n \n Vertex Shares\n \n \") and Vertex Energy Services Ltd., a wholly-owned subsidiary of Vertex, will amalgamate with Cordy Oilfield resulting in Vertex owning all of the issued and outstanding shares of the amalgamated corporation following the Amalgamation.  In connection with signing the Amalgamation Agreement, a nominee of Cordy (the \"\n \n Cordy Nominee\n \n \") is proposed to b...