Business News • MarketWire • WCSB GORR Oil and Gas Income Participation 2008-II Limited Partnership Announces Completion of Restructuring Transaction |
WCSB GORR Oil and Gas Income Participation 2008-II Limited Partnership Announces Completion of Restructuring Transaction |
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WCSB GORR Oil and Gas Income Participation 2008-II Limited Partnership Announces Completion of Restructuring Transaction
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 3, 2011) - WCSB Holdings Corp. is pleased to announce the completion of its previously announced transaction, on October 28, 2011 involving a restructuring of WCSB Oil & Gas Royalty Income 2008-II Limited Partnership (the "Partnership") and its assets and the sale, on a tax deferred basis, of its portfolio of oil and natural gas gross over-riding royalties (the "GORRs") to Caledonian Royalty Corporation ("Caledonian") in exchange for royalty units of Caledonian ("CRC Royalty Units"), a private Alberta-based corporation (the "Transaction"). Under the terms of the Agreement, Caledonian issued 377,822 CRC Royalty Units valued at $4,533,864 for the GORRs.
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