Pétrolia Inc.

11:33 AM EST - Pétrolia Inc. : Has entered into a definitive agreement dated May 15 with Pieridae Energy Limited, a private Canadian corporation, providing for a business combination by way of plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act, pursuant to which Pétrolia and Pieridae will amalgamate to form a new entity to be named "Pieridae Energy Limited". The completion of the Arrangement will result in a reverse takeover of the Company as defined in the policies of the TSX Venture Exchange. Pétrolia Inc. shares V.PEA are trading unchanged at $0.17.