Iron Bridge Resources announces agreement with Velvet Energy to increase equity cash consideration by 13%

September 10, 2018

Torys is representing Iron Bridge with a team that includes Scott Cochlan, Janan Paskaran, Lianne Tysowski and Nikki Saint-Onge.

On September 10, 2018, Iron Bridge Resources Inc. (“Iron Bridge”) announced that it entered into a support agreement with Velvet Energy Ltd (“Velvet”) in which Velvet agreed to amend its offer to acquire all of the issued and outstanding common shares of Iron Bridge, dated May 22, 2018, from C$0.75 per common share in cash to C$0.845 per share.

The amended offer has the support of the Iron Bridge Boards of Directors. Further, all Iron Bridge Directors, Officers and certain shareholders, who together own approximately 35% of the outstanding common shares, entered into agreements to tender their shares in response to the amended offer.

Iron Bridge Resources is a junior oil and gas company focused on one of the most exciting Montney Oil plays in Western Canada.

Velvet Energy is a privately-held, full-cycle exploration and production company with a focus in the liquids-rich gas and light oil window of the Deep Basin of Alberta.

Further information can be found on Business Wire’s website.