09:42 AM EST - Cequence Energy Ltd. : said that it mailed its offer to acquire all of the outstanding common shares of HFG Holdings Inc., not already owned by Cequence or its affiliates or associates, on the basis of 0.04 of a common share of Cequence for each outstanding HFG Share. The Offer was previously announced on September 25. The offer will be open for acceptance until 5:00 p.m. (Calgary time) on November 12, unless withdrawn or extended by Cequence. The Offer is conditional upon, among other conditions, at least 90% of the outstanding HFG shares not already owned by Cequence being validly deposited and not withdrawn under the offer and receipt of all necessary regulatory approvals. Cequence currently beneficially owns about 161.5 million HFG shares representing about 71% of the currently outstanding HFG Shares. In addition, Cequence has entered into lock-up agreements with certain other major shareholders of HFG pursuant to which the Locked-Up Shareholders have agreed to tender to the offer and not withdraw, except in certain circumstances, about 53.95 million HFG shares, representing about 24% of the currently outstanding HFG shares and about 82% of the outstanding HFG shares not already owned by Cequence or its affiliates or associates. Cequence Energy Ltd.
shares T.CQE are trading up $0.05 at $4.05.
