BRIEF-Twin Butte Energy and Reignwood Resources announce plan of arrangement

Fri Jun 24, 2016 11:12am EDT
 
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June 24 (Reuters) -

* Twin Butte Energy Ltd. and Reignwood Resources Holding Pte. Ltd. jointly announce plan of arrangement

* Reignwood Resources Holding to acquire all of outstanding common shares of Twin Butte for cash consideration of $0.06 per share

* Says purchaser is a partnership of Reignwood Group and Horizon Holding Group

* Purchaser has reached agreement with Twin Butte's senior secured lenders with respect to terms and conditions of a new credit facility

* Twin Butte Energy Ltd says upon closing of transaction, Twin Butte shares and debentures will be de-listed from Toronto Stock Exchange Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)