Brief: New Stratus Energy Announces Proposed Acquisition And Private Placement Offering Of Subscription Receipts

New Stratus Energy

01/06/2018 16:01

June 1 (Reuters) - New Stratus Energy Inc  NSE.V :
    * NEW STRATUS ENERGY ANNOUNCES PROPOSED ACQUISITION AND
PRIVATE
PLACEMENT OFFERING OF SUBSCRIPTION RECEIPTS
    * TO ACQUIRE VETRA ENERGIA, S.L. FOR US$88.5 MILLION
    * INTENDS TO COMPLETE A BROKERED PRIVATE PLACEMENT OF UP TO
C$130
MILLION AT A PRICE OF C$0.40 PER SUBSCRIPTION RECEIPT
    * EXPECTS FOR MARINO OSTOS TO ASSUME ROLE OF CHIEF EXECUTIVE
OFFICER
    * PURSUANT TO LOI, PARTIES HAVE AGREED TO AN EXCLUSIVITY
PERIOD
UNTIL JULY 31, 2018
    * JOSE FRANCISCO ARATA TO BE APPOINTED EXECUTIVE CHAIRMAN OF
CORPORATION IN NEAR FUTURE

Source text for Eikon:  ID:nGNX8qzyq6 
Further company coverage:  NSE.V 

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