03:51 PM EST - ProspEx Resources Ltd : has entered into an agreement with Paramount Resources Ltd. providing for the acquisition by Paramount of all of the issued and outstanding voting common shares of ProspEx not already owned by Paramount. Under the terms of the Transaction, shareholders of ProspEx may elect to receive either: (i) 0.07162 of a Class A common share of Paramount or (ii) $2.40 cash, for each ProspEx Share, provided that Paramount will issue an aggregate of 2,000,000 Paramount Shares pursuant to the Transaction. The total cost to Paramount is approximately $180 million. ProspEx Resources Ltd
shares T.PSX are trading up $0.30 at $2.35.
