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Frontera Acquires Rights of CGX Energy for CDN 60,905
Thursday 14 March 2019

14 March 2019 - Canada-based oil and gas exploration company Frontera Energy Corp. (TSX: FEC) has acquired 12,181,000 rights to acquire common shares of CGX Energy Inc. (TSX Venture: OYL) for an aggregate purchase price of CDN 60,905 (USD 45,700), or CDN 0.005 per right (USD 0.0038), the company said.

Prior to the acquisition of the 12,181,000 rights, Frontera owned or exercised control over 56,066,214 common shares and 56,066,214 rights on a non-diluted basis (representing approximately 48.29% of the issued and outstanding common shares on a non-diluted basis) and 152,132,428 common shares on a partially-diluted basis, then held by Frontera (representing approximately 71.7% of the issued and outstanding common shares on a partially-diluted basis).

Immediately after the acquisition of the 12,181,000 rights, Frontera owns or exercises control over 56,066,214 common shares and 68,247,214 Rights on a non-diluted basis (representing approximately 48.29% of the issued and outstanding common shares on a non-diluted basis) and 164,313,428 common shares on a partially-diluted basis, assuming the exercise or conversion of all securities.

Frontera acquired the Rights for investment purposes.

Frontera Energy Corp. is an explorer and producer of crude oil and natural gas, with operations focussed in Latin America.

The company has a diversified portfolio of assets with interests in more than 30 exploration and production blocks.
Details
Date Published: 14/03/2019
Target: 12,181,000 rights to acquire common shares of CGX Energy
Country: Canada
Deal Size: 45,700 (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Stakebuilding
Financing:
Status: Closed
Vendor:
Buyer: Frontera Energy Corp
Comment:


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