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BRIEF-Petrolia announces third amendment to arrangement agreement with Pieridae
August 28, 2017 / 6:37 PM / in 3 months

BRIEF-Petrolia announces third amendment to arrangement agreement with Pieridae

Aug 28 (Reuters) - Petrolia Inc:

* Petrolia announces closing of the Pieridae private placement and third amendment to arrangement agreement

* Entered agreement with Pieridae to amend certain provisions of arrangement agreement executed on May 15, 2017, with Pieridae​

* Pieridae, co agreed to lower exchange ratio by which each Pieridae share will be exchanged for Amalco shares from 2.74123 to 2.2057526

* Expected co’s shareholders to hold about 18.40%, Pieridae shareholders to hold about 81.60% of outstanding Amalco shares after deal completion

* Based on foregoing amendment, value to be paid for Pétrolia common shares has been increased to $0.4723 per share Source text for Eikon: Further company coverage:

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