09:49 AM EST - Eaglewood Energy Inc. : announced it has entered into an arrangement agreement with Transform Exploration Pty Ltd., an oil and gas company focused on the Australasian and South-East Asian regions, for the purchase of all of the issued and outstanding shares of Eaglewood by a wholly-owned subsidiary of Transform, pursuant to a plan of arrangement conducted pursuant to the Business Corporations Act . Under the terms of the Arrangement Agreement, Eaglewood shareholders will receive 38 cents Canadian in cash for each Eaglewood common share, representing a premium of approximately 20% over the volume weighted average trading price of 31.5 cents Canadian per Eaglewood Share on the TSX Venture Exchange for the 30-trading days ending May 16. It is anticipated that the Arrangement will close on or before July 8. Eaglewood Energy Inc.
shares V.EWD are trading up $0.03 at $0.37.
