In connection with the Transaction, an aggregate of 4,399,215 ordinary shares in the capital of i3 Energy (i3 Shares) were issued to Toscana shareholders in exchange for their Toscana Shares on the basis of 0.03031261 of an i3 Share for each Toscana Share. Following completion of the Transaction, an aggregate of 700,054,815 i3 Shares are issued and outstanding.
Also in connection with the Transaction, i3 Energy made application and was conditionally approved for the listing of the i3 Shares on the
In connection with the Transaction, the board of directors of Toscana resigned and a new board of directors was appointed. The new board of directors of Toscana is comprised of
About i3 Energy
i3 Energy is an independent oil and gas company incorporated under the laws of the
For further information, please contact:
Camarco
Tel: +44 20 3757 4980
i3energy@camarco.co.uk
Advisories
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook.
Specific forward-looking statements in this press release include, but are not limited to statements regarding the listing of the i3 Shares on the TSX and the timing in connection therewith, completion of the requirements set out in the TSX Letter and the timing in connection therewith and the delisting from the TSX of the Toscana Shares and the timing in connection therewith. Such information reflects Toscana’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, without limitation: the impact of any changes in the laws and regulations in the jurisdictions in which the Company operates.
Although Toscana believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Toscana can give no assurance that such expectations will prove to be correct. The forward-looking statements and information are based on Toscana’s current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others: necessary approvals from the
SOURCE:
Source:
2020 GlobeNewswire, Inc., source