Brief: Pedevco terminates pending merger with GOM Holdings, enters into LoI with investor group

PEDEVCO

22/06/2017 19:47

June 22 (Reuters) - Pedevco Corp  PED.A  
    * Pedevco Corp - recently entered into a new non-binding 
letter of intent with a Hong Kong-based investor group 
    * Pedevco Corp - the investor group has expressed an 
interest in funding development of co's oil and gas assets and 
restructuring the co's debt 
    * Pedevco Corp says on June 22, Co terminated its pending 
merger with GOM Holdings LLC - SEC filing 
    * Pedevco Corp - has no further obligations or termination 
liabilities due or owing to GOM under GOM merger agreement as a 
result of termination 
    * Pedevco Corp -  transactions contemplated in letter of 
intent, if consummated, may result in significant dilution to 
existing shareholders 
    * Pedevco Corp - Co and the investor group signed a 
non-binding term sheet which includes a binding 90-day no-shop 
period expiring in late August 2017 
    * Pedevco Corp - Terminated its pending merger with GOM 
holdings as Pedevco sees a more certain and favorable 
transaction with new investor group 
 
Source text: (http://bit.ly/2t0lHq9) 
Further company coverage:  PED.A  
 
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