Business News • MarketWire • The Sixth Energy Limited Announces the Acquisition of Securities of Caspian Energy Inc. |
The Sixth Energy Limited Announces the Acquisition of Securities of Caspian Energy Inc. |
|
|
The Sixth Energy Limited Announces the Acquisition of Securities of Caspian Energy Inc.
CALGARY, ALBERTA and BEIJING, CHINA--(Marketwired - May 21, 2015) - The Sixth Energy Limited ("Sixth Energy") has filed an early warning report announcing that, on May 20, 2015, Sixth Energy acquired ownership or control over (a) 154,954,366 common shares (the "Acquired Shares") of Caspian Energy Inc. (NEX:CKZ.H) (the "Corporation"), representing approximately 33.4% of the post-closing issued and outstanding common shares (the "Common Shares") of the Corporation, at a deemed issuance price of approximately US$0.13 (approximately Cdn.$0.16 based on the Bank of Canada noon exchange rate on May 20, 2105) per Acquired Share, and (b) consideration warrants (the "Consideration Warrants") to acquire a further 7,540,743 Common Shares of the Corporation. The Consideration Warrants are only exercisable by Sixth Energy upon the exercise of stock options (the "Reference Stock Options") previously issued by the Corporation prior to the execution of the Share Purchase Agreement (as defined below). Each Consideration Warrant is exercisable on the same terms and conditions as the corresponding Reference Stock Option that such Consideration Warrant tracks.
View More : http://www.marketwired.com/mw/release.do?id=2022281&sourceType=3
|
|
|