| | Publié le 06 août 2008 | Announces Intent to Acquire Flying A Petroleum Ltd. |
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CANADA GAS CORP. ANNOUNCES INTENT TO ACQUIRE
FLYING A
PETROLEUM LTD.
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Vancouver, British Columbia,
Canada –August 5, 2008 - Canada Gas Corp. (the “Company”) announces a proposal to
acquire all of the outstanding shares of Flying A Petroleum Ltd. (“Flying
A” tsx.v: FAB) on the basis of 6 (six) Flying A
shares for 1 (one) Canada Gas share.
This proposal follows on an
agreement announced September 2007, whereby Bighorn Petroleum Ltd.,
Flying A, Canada Gas Corp (formerly Wyn
Developments Inc.) and Tenaka Drilling
Consortium Ltd. would amalgamate to consolidate each Company’s respective
assets into one entity. Notwithstanding the agreement of the
parties, negotiations did not result in a formal amalgamation and
subsequently, Wyn Developments Inc. spun off
its mineral assets, restructured its share capital, and changed its name
to Canada Gas Corp. (tsx.v: CJC). It has
been the Company’s consistent belief that a combination of the companies
holding shared interests in two northeastern British Columbia
gas plays is the ideal strategic direction for the companies, enabling
the attraction of strong technical management and financial assistance to
position the projects for success. This offer represents the next
step in the Company’s plan to bring about these benefits. The
elimination of duplicate costs for audits, reserve reports, accounting,
office space, management, legal fees and the like would result in
significant cost savings that could be re-deployed. The increased
scale of Canada Gas after the acquisition of Flying A will enhance
financial strength providing improved access for project capital.
For Flying A shareholders,
the proposal represents:
- An opportunity through which they may obtain shares which
will trade on the TSX Venture Exchange, in exchange for Flying A shares currently subject to a cease trade
order.
- Enhanced liquidity for Flying A’s shareholders in the form of
Canada Gas shares;
- A better opportunity for the development of the Northeastern B.C natural gas interests owned by
the two companies;
- By virtue of the enhanced scale of CJC upon completion of the
offer the greater opportunity to secure financial and
technical resources to manage and develop the Company’s gas
assets;
- Increased financial strength, enhanced cash flow from current
production and improved access to capital;
- The opportunity for operational and administrative synergies;
An unsolicited proposal
respecting the acquisition of all of the outstanding common shares of
Flying A by the Company was presented to management of Flying A late
Friday afternoon, August 1st, 2008, with a response requested
from management by 5 pm, Tuesday August 5th, 2008. The
Company was advised that due to a currently imposed cease trade order
respecting Flying A’s common shares, Flying A and its shareholders are
prohibited from negotiating and or entering into a transaction that would
involve the common shares of Flying A, including a takeover bid, without
a partial revocation of said cease trade order. To resolve this
issue, the Company proposes to make an
application to the appropriate regulatory authorities for a partial
revocation of the cease trade order for the purpose of executing and
completing this proposal.
If the Company is successful
in obtaining a revocation of the cease trade order, it intends to
commence a formal takeover bid by mailing a formal offer and takeover bid
circular to Flying A shareholders in adherence with all regulatory and
TSX Venture exchange requirements. The offer will be subject to
certain conditions, including receipt of all necessary regulatory
clearances, absence of material adverse changes and acceptance of the offer
by Flying A shareholders holding such number of common shares of Flying A
as the Company considers sufficient to justify proceeding with the
acquisition. No threshold amount has yet been determined by the
Company in this regard.
Subject to the receipt of
the partial revocation order, the Company will attempt to execute lock-up
agreements with Flying A’s significant shareholders under which they
would agree to tender shares to a take over bid.
The Company reserves the
right to perform five days of due diligence on Flying A and reserves the
right to amend or retract the proposal should the actual assets under
Flying A ownership materially differ than as publicly disclosed by Flying
A.
If successful, the Company
hopes to complete the transaction on or before October 15th
2008. The Company intends to complete the transaction in
conjunction with planning exploration and development activities for
winter 2008/2009.
This news release does not
constitute an offer to buy or an invitation to sell, or the solicitation
of an offer to buy or invitation to sell, any of the securities of the
Company or Flying A, nor is it intended to represent the commencement of
a formal bid to acquire common shares of Flying A. Such an offer,
if and when it is made, will be made pursuant to a formal offer and
takeover bid circular filed with the securities regulatory authorities in
Canada
and mailed to the shareholders of Flying A in accordance with applicable
regulatory requirements.
This proposal is subject to
all regulatory requirements and approvals.
For more information on
Canada Gas Corp., please visit www.canadagas.ca or call 1.888.685.5851.
David McMillan, President
&
CEO
Corporate Communications:
Chad McMillan B.A. (Cmns)
(604) 685-5841 or Toll Free:
(888) 685-5851
520 – 700 West Pender Street
~ABOUT THE COMPANY~
Canada Gas Corp. (tsx.v: CJC; Frankfurt: YXE; otc:bb:
CJCFF) has two natural gas projects located in the foothills region of
the prolific petroleum and natural gas bearing Western Canadian
Sedimentary Basin, northeastern British
Columbia, Canada. The Prophet
River and Trutch projects feature varying PNG rights to
multiple prospective target horizons, multiple prospective development
locations, and flexible logistics.
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Chad McMillan B.A. (cmns)
VP Corporate
Communications
Suite 520-700 West Pender Street
Vancouver, BC, Canada V6C
1G8
Local:
1.604.685.5851
Toll Free: 1.888.685.585
Fax: 604.685.7349
E-mail: ir@canadagas.ca
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tsx.v: CJC
Frankfurt: YXE
otc-bb: CJCFF
SHARE STRUCTURE
Shares Outstanding: 20 million
Fully Diluted: approx. 28 million
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Chad McMillan
ir@canadagas.ca
1.604.685.5851 Suite 520-700 West Pender
Street V6C 1G8 Vancouver, BC, Canada
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The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
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Canada Strategic Metals Corp
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PRODUCTEUR |
CODE : CJC.V |
ISIN : CA1352741088 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Canada Strategic Metals est une société d’exploration minière et d'or basée au Canada. Canada Strategic Metals est productrice de gaz au Canada, et détient divers projets d'exploration au Canada. Son principal projet en production est TRUTCH au Canada et ses principaux projets en exploration sont PROPHET RIVER NATURAL et GOELAND au Canada. Canada Strategic Metals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 22,5 millions CA$ (16,9 millions US$, 14,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 03 janvier 1997 à 9,90 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,02 CA$. Canada Strategic Metals possède 75 039 155 actions en circulation. |
Financements de Canada Strategic Metals Corp |
Attributions d'options de Canada Strategic Metals Corp |
Nominations de Canada Strategic Metals Corp |
Projets de Canada Strategic Metals Corp |
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Communiqués de Presse de Canada Strategic Metals Corp |
16/05/2016 | Strategic Metals monetizes graphite asset |
25/04/2016 | Regional setting of the Sakami Gold property |
11/04/2016 | Canada Strategic TSXV: CJC and Lomiko TSXV: LMR to drill hig... |
05/04/2016 | Canada Strategic Metals announces closing of $205,000 privat... |
24/03/2016 | Canada Strategic TSXV: CJC and Lomiko TSXV: LMR file NI 43-1... |
24/03/2016 | Canada Strategic Metals announces private placement |
21/03/2016 | CJC.V discovers multiple new showings at Apple with results ... |
30/09/2015 | New gold zone grading up to 45.9 g/t au discovered on the Sa... |
30/09/2015 | New Gold Zone Grading Up to 45.9 g/t Au in Grab Sample Disco... |
24/09/2015 | Canada Strategic and Lomiko discover a 500+ metre long high ... |
24/09/2015 | IIROC Trading Resumption - LMR; CJC |
24/09/2015 | IIROC Trading Halt - CJC; LMR |
29/07/2015 | LOMIKO AND CANADA STRATEGIC FIND WIDE-RANGING HIGH GRADE SAM... |
29/07/2015 | Canada Strategic and Lomiko find wide-ranging high grade sam... |
27/07/2015 | LOMIKO AND CANADA STRATEGIC MOBILIZE DRILL RIG TO LA LOUTRE ... |
21/07/2015 | LOMIKO HIRES DRILLING COMPANY FOR LA LOUTRE CRYSTALLINE FLAK... |
15/07/2015 | Canada Strategic Metals geophysical survey identified target... |
15/07/2015 | Canada Strategic Metals Geophysical Survey Identified Target... |
06/07/2015 | LOMIKO RECEIVES DRILLING PERMIT FOR 75 - 100 DRILL HOLES AT ... |
18/06/2015 | Annual meeting |
18/06/2015 | Canada Strategic Metals Inc.: Annual Meeting |
15/04/2015 | CJC.V reports wide gold-bearing intersections, with results ... |
15/04/2015 | CJC.V reports wide gold-bearing intersections, with results ... |
15/04/2015 | CJC.V Reports Wide Gold-Bearing Intersections, With Results ... |
15/04/2015 | CJC.V Reports Wide Gold-Bearing Intersections, With Results ... |
14/04/2015 | Strategic Metals Monetizes Graphite Asset in Exchange for Im... |
02/04/2015 | Canada Strategic Metals Appoints Momentum for investor relat... |
02/04/2015 | Appoints Momentum for Investor Relations |
26/03/2015 | Canada Strategic Metals announces first closing of $125,000 |
26/03/2015 | Announces First Closing of $125,000 |
11/03/2015 | Canada Strategic Metals announces private placement |
26/02/2015 | Canada Strategic Metals Begins a Drilling Campaign of a Mini... |
09/02/2015 | Strategic Metals Monetizes Graphite Asset in Exchange for Im... |
03/02/2015 | Strategic Metals Acquires a New Property Near the Discovery ... |
21/01/2015 | TSX-V: CJC and TSX-V: MAT obtains its permits to drill the e... |
21/01/2015 | TSX-V: CJC and TSX-V: MAT obtains its permits to drill the e... |
21/01/2015 | TSX-V: CJC and TSX-V: MAT obtains its permits to drill the e... |
21/01/2015 | TSX-V: CJC and TSX-V: MAT obtains its permits to drill the e... |
21/01/2015 | TSX-V: CJC and TSX-V: MAT Obtain their Permits to Drill the ... |
14/01/2015 | TSX-V: CJC and TSX-V: LMR Recent Results Confirm Graphite Mi... |
14/01/2015 | TSX-V: CJC and TSX-V: LMR Recent Results Confirm Graphite Mi... |
07/01/2015 | TSX-V: CJC and TSX-V: LMR set flake graphite resource target... |
07/01/2015 | TSX-V: CJC and TSX-V: LMR Set Flake Graphite Resource Target... |
22/12/2014 | Canada Strategic Metals announces first closing of $186,500 |
22/12/2014 | Canada Strategic Metals Announces First Closing of $186,500 |
17/12/2014 | Once Again La Loutre Delivers Near Surface, Wide Graphite-Be... |
16/12/2014 | Christophe Romary appointed as president |
16/12/2014 | Canada Strategic Metals Inc.: Christophe Romary Appointed as... |
10/12/2014 | La Loutre continues to deliver near surface, wide graphite-b... |
10/12/2014 | La Loutre Continues to Deliver Near Surface, Wide Graphite-B... |
02/12/2014 | Discovery of a Wide, Rich Graphite-Bearing Zone with an Inte... |
04/11/2014 | Canada Strategic and Lomiko Metals intersect multiple graphi... |
04/11/2014 | Canada Strategic and Lomiko Metals Intersect Multiple Graphi... |
29/10/2014 | Drilling begins at La Loutre property |
29/10/2014 | Canada Strategic Metals Inc.: Drilling Begins at La Loutre P... |
06/10/2014 | Canada Strategic Metals Inc.: Drill Permit Issued for the La... |
23/09/2014 | Canada Strategic Signs an Agreement with Lomiko Metals to Se... |
02/09/2014 | Request for Extension of the Maturity of the Warrants |
25/07/2014 | Canada Strategic Metals Inc.: Options Granted |
23/07/2014 | CJC Intersects 3.54 g/t Au Over 12.00 Metres and 3.58 g/t Au... |
03/07/2014 | CJC Intersects 2.51 g/t Au Over 48.20 Metres, Including 6.93... |
28/05/2014 | Canada Strategic Metals Reports New Wide Gold-Bearing Inters... |
05/05/2014 | Canada Strategic Metals Reports a Partial Closing of its Pri... |
30/10/2013 | Strategic Metals Inc.: Annual and Special Meeting |
24/10/2013 | Strategic Metals Reports High-Grade Gold Results of Up to 61... |
03/10/2013 | Strategic Metals Inc.: Debt Settlement |
26/09/2013 | Strategic Metals Report More High Grade Results With Up to 1... |
09/09/2013 | Strategic Metals Starts Work Program at Sakami Gold Project |
19/08/2013 | Strategic Metals and Matamec Announce Agreement for Sakami G... |
31/07/2013 | Strategic Metals Inc.: Debt Settlement |
27/06/2013 | Strategic Metals Inc.: Debt Settlement and Property Option A... |
11/06/2013 | Strategic Provide Corporate Update and Results from the Prel... |
16/04/2013 | Strategic Receives Promising Results From Grand Prix and Cha... |
26/03/2013 | Strategic Receives Additional Large-Flake Graphite Character... |
12/02/2013 | Strategic Metals Awaiting Metallurgical Characterization Tes... |
31/07/2012 | s Inc. to change its name to Canada Strategic Metals Inc. |
23/07/2012 | s Schedules Shareholder Webcast for Tuesday July 24th, 2012 |
19/07/2012 | s welcomes Ron MacDonald as Executive Chairman & Director, M... |
20/06/2012 | s Successfully Identifies Electromagnetic Anomalies on both ... |
12/05/2012 | s Exhibit at the Hard Assets Conference, New York |
19/04/2012 | s Acquires 2 New Quebec Graphite Projects and Introduces Lav... |
13/04/2012 | s Completes Non-Brokered Private Placement |
08/03/2012 | s Increases Non-Brokered Private Placement to $700,000 |
05/03/2012 | s Arranges $600,000 Non-Brokered Private Placement |
09/12/2011 | s Announces Pre-Development Agreement with The Grand Council... |
13/10/2011 | s Completes Hole GO-3 at 525 meters, Ending in Carbonatite |
12/09/2011 | (Goeland)S SUCCESSFULLY INTERSECTS TARGETED CARBONATITE INTRUSION AT ... |
06/08/2011 | s Shareholders Approve All Resolutions at General Meeting |
04/03/2011 | COMPLETES NAME CHANGE & Welcomes Benoit Moreau as Technical ... |
27/07/2010 | CLOSES TRUTCH SALE |
05/01/2010 | Shareholders Approve AGM Resolutions |
26/05/2009 | to Participate in Two Bakken Oil Projects |
06/08/2008 | Announces Intent to Acquire Flying A Petroleum Ltd. |
31/07/2008 | engages Sproule Associates, Discusses Unconventional Potenti... |
03/07/2008 | Completes Restructuring |
05/05/2008 | Shareholders Approve All Resolutions at Annual and Special ... |
19/09/2007 | RESERVES ESTIMATES AND SIGN A BINDING AMALGAMATION AGREEMENT |
05/04/2007 | Trutch Production Figures |
01/06/2006 | launches new website |
21/03/2006 | (Trutch)updates Bougie trutch natural gas development project |
Publication de commentaires terminée |
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