Donnycreek merges with Contact Exploration
On December 19, 2014, Contact Exploration Inc. (Contact) and Donnycreek Energy Inc. (Donnycreek) successfully completed the merger of the two companies pursuant to the previously announced plan of arrangement to form a new, amalgamated corporation named Kicking Horse Energy Inc. (Kicking Horse), which consolidates the companies' interests in the Deep Basin including working interests (WI) in their Kakwa (East), Alberta property.
Pursuant to the terms of the arrangement, shareholders of Donnycreek received 0.600 shares of Kicking Horse for each Donnycreek share and shareholders of Contact received 0.075 shares of Kicking Horse for each Contact share. Additionally, all of the outstanding stock options of Contact and Donnycreek were exchanged for stock options of Kicking Horse based on each of the applicable Donnycreek and Contact exchange ratios under the arrangement, with the exercise price of the issued Kicking Horse options similarly adjusted.
RBC Dominion Securities Inc. acted as financial advisor to Donnycreek, while Canaccord Genuity Corp. acted as financial advisor to Contact.
Contact Exploration is a public oil and gas company which has a long-term history of operating in Atlantic Canada and has recently demonstrated success in Alberta's liquids-rich Montney Formation tight gas play.
Donnycreek Energy is a Calgary based oil and natural gas exploration and production company, focused on the Montney natural gas resource play in the Alberta Deep Basin.
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