10:37 AM EST - Tuscany International Drilling Inc. : announced that it has closed the acquisition of all of the issued and outstanding shares of Caroil SAS, a drilling and work-over subsidiary of Etablissements Maurel & Prom. Tuscany acquired Caroil in exchange for $120 million U.S. in cash and the issuance of 81,500,000 common shares of Tuscany and 27,500,000 zero-cost, non-transferable, non-voting common share purchase warrants of Tuscany. Tuscany International Drilling Inc.
shares T.TID are trading down $0.02 at $0.81.
