Cona Resources Ltd.

12:26 PM EST - Cona Resources Ltd. : Announced receipt of a proposal from Waterous Energy Fund and its affiliates to take the Company private at $2.55 per Cona common share. The offered price represents a 31% premium over Cona's 20-day volume weighted average price of $1.94 as of March 6, 2018. WEF acquired approximately 67% ownership of Cona in May 2017 and, upon completion of the Transaction, would become the sole shareholder of the Company. Cona Resources Ltd. shares T.CONA are trading up $0.50 at $2.41.