Preda­tor Blockchain to ac­quire High­wood Oil as QT

Stockwatch Daily - - SHELLS - Mr. Arif Shivji re­ports

PREDA­TOR BLOCKCHAIN Cap­i­tal Corp. en­tered into an amended let­ter of in­tent dated Nov. 7, 2018, with High­wood Oil Com­pany Ltd., whereby the par­ties have agreed to ne­go­ti­ate a de­fin­i­tive agree­ment re­lated to a pro­posed ac­qui­si­tion by Preda­tor of all of the is­sued and out­stand­ing se­cu­ri­ties of High­wood for pur­poses of com­plet­ing a qual­i­fy­ing trans­ac­tion. It is an­tic­i­pated that upon com­ple­tion of the ac­qui­si­tion, the re­sult­ing is­suer will meet the Tier 2 list­ing re­quire­ments of the TSX Ven­ture Ex­change for an oil and gas is­suer. As Stephen J. Holyoake is a di­rec­tor and share­holder of both Preda­tor and High­wood, the ac­qui­si­tion con­sti­tutes a re­lated party qual­i­fy­ing trans­ac­tion.

Sum­mary of ac­qui­si­tion

The terms of the ac­qui­si­tion con­tem­plate a share con­sol­i­da­tion of the 10 mil­lion out­stand­ing com­mon shares of Preda­tor at a ra­tio of ap­prox­i­mately 1:53 and the is­suance of 5,744,204 post­con­sol­i­da­tion com­mon shares to High­wood share­hold­ers at a deemed value of $9 per share, which im­plies an en­tity value for High­wood of ap­prox­i­mately $51,697,836. Ac­cord­ingly, if the ac­qui­si­tion is com­pleted, it is ex­pected that the re­sult­ing is­suer will have ap­prox­i­mately 5,932,883 post­con­sol­i­da­tion com­mon shares is­sued and out­stand­ing (on a non-di­luted ba­sis).

Man­age­ment of re­sult­ing is­suer

Upon com­ple­tion of the ac­qui­si­tion, the in­di­vid­u­als in­di­cated herein will be ap­pointed as the of­fi­cers and di­rec­tors of the re­sult­ing is­suer:

• Greg Mac­don­ald — pro­posed chair­man, pres­i­dent, chief ex­ec­u­tive of­fi­cer and di­rec­tor, Cal­gary, Alta.

• Gray­don Glans — pro­posed chief fi­nan­cial of­fi­cer, Cal­gary, Alta.

• Kelly McDon­ald — pro­posed vice-pres­i­dent, ex­plo­ration, Cal­gary, Alta.

• Stephen J Holyoake — Pro­posed di­rec­tor, Cal­gary, Alta.

• Trevor Wong-Chor — pro­posed di­rec­tor and sec­re­tary, Cal­gary, Alta. Spe­cial meet­ing of Preda­tor share­hold­ers

Preda­tor has set Dec. 20, 2018, as the date for a spe­cial meet­ing of share­hold­ers to ap­prove the ac­qui­si­tion.

About High­wood Oil Com­pany Ltd.

High­wood is a pri­vate Al­berta-based oil and gas ex­plo­ration and pro­duc­tion com­pany, which is cur­rently fo­cused in the Red Earth and Jarvie/Nip­isi ar­eas of Al­berta. High­wood has three core busi­ness units:

• Oil re­source play (Keg River at Red Earth);

• Shal­low oil re­source play (Clearwater at Jarvie/Nip­isi);

• Oil trans­porta­tion (Wabasca River pipe­line at Red Earth).

High­wood’s cur­rent land base is 376 sec­tions (277 net) or 240,640 acres (177,280 net). In­cluded in this land po­si­tion is 177 gross (89 net) sec­tions of Clearwater rights, which will con­sti­tute High­wood’s core growth fo­cus over the com­ing years.

We seek Safe Har­bor.

Erika Flo­res con­densed this news re­lease (erikaf@stockwatch.com).

Stephen John Holyoake, Arif Shivji, Jarvis A Wil­liams, Trevor P Wong-Chor

(PRED) Shares: 10,000,000

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.