Brief: Crown Point Energy And Centaurus Energy Enter Into Term Sheet And Propose To Merge In A Stock-Based Business Combination

Crown Point Energy

07/01/2021 13:22

Jan 7 (Reuters) - Crown Point Energy Inc  CWV.V :
    * PRESS RELEASE - CROWN POINT ENERGY AND CENTAURUS ENERGY
ENTER
INTO TERM SHEET AND PROPOSE TO MERGE IN A STOCK-BASED BUSINESS
COMBINATION TO CREATE AN OPERATIONALLY DIVERSIFIED, FINANCIALLY
STRONG, ARGENTINA-FOCUSED OIL AND GAS PRODUCTION COMPANY
    * CROWN POINT ENERGY INC - CURRENTLY INTENDED THAT PROPOSED
TRANSACTION BE A 60/40 COMBINATION IN FAVOUR OF CROWN POINT
    * CROWN POINT ENERGY INC - LEADERSHIP OF COMBINED COMPANY
WOULD
SEEK A LOCAL, ARGENTINA-LISTING OF COMBINED COMPANY'S SHARES
    * CROWN POINT ENERGY INC - SIGNING OF TERM SHEET HAS BEEN
UNANIMOUSLY APPROVED BY CROWN POINT'S AND CENTAURUS' BOARD
    * CROWN POINT ENERGY INC - COMBINED CO WOULD HAVE A COMBINED
MANAGEMENT TEAM AND BOARD, WHICH WOULD INCLUDE: TWO CO-CEOS

Source text for Eikon:  ID:nGNX1QBtVl 
Further company coverage:  CWV.V 

 ((reuters.briefs@thomsonreuters.com;))