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InPlay Oil Corp. And Prairie Storm Resources Corp. Announce Completion of Strategic Cardium Combination

Retrieved on: 
Tuesday, November 30, 2021
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CALGARY, Alberta, Nov. 30, 2021 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") and Prairie Storm Resources Corp. (TSXV: PSEC) ("Prairie Storm") are pleased to announce that they have closed on today's date (the "Effective Date") the previously announced plan of arrangement under section 193 of the Business Corporations Act (Alberta) (the "Acquisition"). Pursuant to the Acquisition, InPlay acquired all of the issued and outstanding common shares of Prairie Storm (the "Prairie Storm Shares") on the basis of $0.2514 in cash and 0.0524 of a common share of InPlay ("InPlay Shares") in exchange for each Prairie Storm Share outstanding and Prairie Storm became a wholly-owned subsidiary of InPlay. As a final step of the Acquisition, InPlay, Prairie Storm and Prairie Storm's wholly-owned subsidiary, Prairie Storm Energy Corp., were subsequently amalgamated under the name "InPlay Oil Corp." (the "Resulting Issuer").

Key Points: 
  • Pursuant to the Acquisition, InPlay acquired all of the issued and outstanding common shares of Prairie Storm (the "Prairie Storm Shares") on the basis of $0.2514 in cash and 0.0524 of a common share of InPlay ("InPlay Shares") in exchange for each Prairie Storm Share outstanding and Prairie Storm became a wholly-owned subsidiary of InPlay.
  • As a final step of the Acquisition, InPlay, Prairie Storm and Prairie Storm's wholly-owned subsidiary, Prairie Storm Energy Corp., were subsequently amalgamated under the name "InPlay Oil Corp." (the "Resulting Issuer").
  • Previous holders of subscription receipts of InPlay are not required to take any action in order to receive the underlying InPlay Shares.
  • InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production.

Kiwetinohk Energy Corp. Announces Third Quarter 2021 Results, Operational Update and TSX Conditional Listing Approval

Retrieved on: 
Friday, November 26, 2021
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Key achievements since the beginning of the third quarter include:

Key Points: 
  • Key achievements since the beginning of the third quarter include:
    Kiwetinohk Resources Corp. (KRC) and Distinction Energy Corp. announced an agreement to combine on June 28, 2021 and form Kiwetinohk Energy Corp.
  • Production averaged 15,058 boe/d in the third quarter of 2021 with the legacy Distinction assets contributing approximately6,463boe/d.
  • All Kiwetinohks contracted Alliance pipeline capacity of 103.0 mmcf/d (after temporary assignments) was filled during the third quarter of 2021.
  • In conjunction with the conditional listing approval from the TSX, William (Bill) Slavin will be stepping down from the Board of Directors of the Corporation.