Canadian Imperial Venture Corp. cancelled the acquisition of Beothuk Energy Inc.
February 02, 2015 at 11:00 pm EST
Canadian Imperial Venture Corp. (TSXV:CQV) signed a letter of intent to acquire Beothuk Energy Inc. for CAD 0.31 million on September 10, 2014. Canadian Imperial will issue 1 common share for every Beothuk share as consideration, subject to a maximum of 62 million shares. The completion of any agreement is subject to acceptance by the TSX-venture exchange, consummation of due diligence investigations, the negotiation and execution of a formal agreement, and approval by the Canadian Imperial Board of Directors. The transaction is expected to close on or about November 1, 2014.
Canadian Imperial Venture Corp. (TSXV:CQV) cancelled the acquisition of Beothuk Energy Inc. on February 3, 2015.