Desert Lion Energy Announces Completion of Plan of Arrangement
TORONTO, July 11, 2019 (GLOBE NEWSWIRE) -- Desert Lion Energy Inc. (“Desert Lion” or the “Company”) (TSX-V:DLI) announced today the completion of the previously announced plan of arrangement (the “Arrangement”), whereby Lepidico Ltd (“Lepidico”) (ASX: LPD) has acquired all of the outstanding common shares of Desert Lion for consideration of 5.4 Lepidico ordinary shares for every 1 Desert Lion common share. The Arrangement, which was announced on May 7, 2019, was approved by the Company’s shareholders at an annual general and special meeting held on June 27, 2019, and by the Ontario Superior Court of Justice (Commercial List) on July 4, 2019.
Lepidico’s ordinary shares are listed for trading on the ASX. Desert Lion has applied to de-list the common shares from the TSX Venture Exchange.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For more information, please contact: