Xemplar Energy Corp. (TSXV:XE) cancelled the acquisition of Pecan property.
As of July 25, 2012, Xemplar received conditional approval from the TSX Venture Exchange. The acquisition remains subject to shareholder approval which will be sought by Xemplar at a special meeting of its shareholders to be held on August 15, 2012. Capital Farm Credit ACA has provided Xemplar Energy with a financing commitment to provide Xemplar Energy with debt financing in the amount of $6.3 million. Xemplar Energy will fund the balance of the purchase price for the property from its existing cash resources. It is expected that the acquisition will be completed on or about August 15, 2012.
As of August 15, 2012, the transaction was approved by Xemplar shareholders. As on September 5, 2012, the Sellers of the property have extended the closing date to October 2, 2012.
Xemplar Energy Corp. (TSXV:XE) cancelled the acquisition of Pecan property on November 28, 2012.