Petrox Resources has agreed to amalgamate a new subsidiary with TrueNorth (TNCX), a software company based in Ontario.
Under the agreement, Petrox Resources’ subsidiary and TNCX will form a new company. Petrox Resources will also consolidate all of its issued and outstanding common shares at a ratio of 5.5 to one (5.5:1).
Based in Canada, Petrox Resources is engaged in oil and gas development.
WRIT Media Group has agreed to acquire US-based Bison Oil and Gas Corporation.
WRIT Media proposes to fund the transaction, which is anticipated to strengthen its business operations through a combination of cash and Series C preferred shares.
The transaction is part of WRIT Media’s strategy to further expand its crypto-currency portfolio.
Based in the US, WRIT Media Group is engaged in diversified media and software development, while Bison Oil and Gas owns and controls approximately 120 wells in Texas.
Interpose Holdings (IHS) has entered a binding sale and purchase agreement with Bayethe Investments to acquire Invictus Energy Resources.
IHS has agreed to issue an option and exercise fee of A$0.075m ($0.058m), as well as consideration shares equivalent to a 19.9% stake in the company following capital raising of A$4.5m ($3.49m).
The company has also agreed to issue performance shares to Bayethe Investments as part of the transaction, which is expected to strengthen its business operations.
IHS is engaged in the exploration and development of gas projects in southern Africa, while Invictus owns an 80% stake in the SG4571 Permit (Cabora Bassa Project) in Zimbabwe.
Total has reached an agreement to acquire a 74.33% stake in Direct Energie for a purchase consideration of approximately €1.4bn ($1.73bn) or €42 ($51.91) a share.
Expected to help Total expand its residential gas and electricity market, the transaction is anticipated to be completed in Q3 2018.
Based in France, Total is an integrated oil and gas company, while Direct Energie is an electricity and natural gas utility.
