Jaguar Resources Inc. (TSXV:JRI) entered into an agreement to acquire Alon Israel Oil Company Ltd. for $400 million (ILS 1.4 billion) on December 4, 2017. Under the terms of the deal, Jaguar will acquire Series "A" Bonds of Alon Israel Oil Company Ltd. in the aggregate principal amount of at least ILS 1.2 billion dated January 22, 2007, which pay interest at a rate of 5.6% per annum and which mature on January 22, 2027 and the entire issued and outstanding share capital of Alon on a fully diluted basis. Jaguar Resources will pay not less than $210 million (ILS 732 million) to a maximum of $400 million (ILS 1.4 billion) to the escrow agent under such arrangement. Pursuant to the transaction, Jaguar will purchase a minimum 600 million Bonds at a price of $0.35 (ILS 1.22) per Bond, representing 51% of the outstanding Bonds. If Jaguar acquires such number of Bonds as is equal to or more than 75% of the aggregate principal amount of the Bonds, the remaining Holders of Bonds will be required to tender the remaining Bonds to the acquisition subject to applicable law set forth by the Israel Securities Authority and the rules of the Israeli Stock Exchange. In order to finance the transaction, Jaguar is proceeding with a non-brokered private placement of common shares offering a minimum of $85 million (ILS 296 million) and a maximum of $450 million (ILS 1.6 billion). Jaguar will hold a shareholders meeting as soon as practicable to attend to certain matters necessary for the completion of the transaction. The transaction is subject to the submission of final documentation and final approval of the Exchange, as well as shareholder approval. Everest Underwriting and Issues Ltd. acted as financial advisor to Jaguar. In consideration for services provided in connection with the transaction, Jaguar will pay to Yaniv Bresler, a corporate advisor, a work fee equal to 2% of the purchase price of the Bonds for financial and other advisory services rendered. Jaguar will also pay to Everest Underwriting and Issues Ltd. a work fee equal to 2% of the purchase price for advisory service connected to completion of the transaction. Jaguar Resources Inc. (TSXV:JRI) cancelled the acquisition of Alon Israel Oil Company Ltd. on December 4, 2018.