09:49 AM EST - Peyto Exploration & Development Corp. : announced that it has entered into an agreement with Open Range Energy Corp. pursuant to which Peyto will acquire all of the issued and outstanding common shares of Open Range on the basis of 0.0696 of a Peyto common share for each Open Range common share pursuant to a statutory plan of arrangement. Based on the 20-day volume weighted average trading price of the Peyto common shares on the TSX on June 29, the deemed acquisition price is approximately $175 million, comprised of the issuance of 5.2 million Peyto common shares, the assumption of an estimated $69.5 million of net debt at closing, and $10 million of transaction costs. Peyto Exploration & Development Corp.
shares T.PEY are trading down $0.43 at $18.81.
