Wrangler West Energy Agrees To Acquisition By Trident Exploration

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
8MM
Description

To acquire the Calgary-based E&P company focused on natural gas and crude oil in Alberta.

Wrangler West Energy Corp. (TSXV: WX) announced Jan. 20 that it entered into an agreement with Trident Exploration Corp. to be acquired for $7.5 million.

Wrangler, of Calgary, explores for and develops natural gas and crude oil in Alberta. The company will be merged with Trident's wholly owned subsidiary, 981443 Alberta Ltd., under the Business Corporations Act (Alberta).

Wrangler shareholders will receive cash consideration of $0.2552 per common share in the capital of Wrangler. The merger represents an estimated 27.6% premium to the closing price of the shares on the TSX Venture Exchange on Dec. 31, which was the last day the shares were traded. The shares are expected to be delisted.

Sayer Energy Advisors is exclusive financial advisor to Wrangler. The transaction is expected to close early March.