March 17, 2017 / 5:44 PM / a year ago

BRIEF-Forent Energy says termination of amalgamation with Perisson Petroleum

* Forent Energy Ltd. announces termination of amalgamation

* Forent Energy Ltd says board of directors of forent has established an independent committee to investigate strategic alternatives for company

* Received notice from perisson petroleum corporation that it will not be proceeding with previously announced amalgamation with forent

* Brad Perry, forent’s CFO has tendered his resignation

* Greg Florence CPA, CMA has been hired as Contract CFO, effective immediately

* Says key condition of amalgamation was that perisson petroleum corporation was to raise $40 million in new equity

* As They have failed to raise that amount, perisson considers amalgamation agreement to have expired Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below