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-Chinook Energy Inc. Announces Plan of Arrangement

Feb 25, 2020 - ENP Newswire
Mergers and Acquisitions

Calgary - Chinook Energy Inc. (TSX: CKE) ('Chinook' or the 'Company') is pleased to announce today that it has entered into a definitive arrangement agreement (the 'Arrangement Agreement') pursuant to which Tourmaline Oil Corp. (TSX: TOU) (the 'Purchaser') has agreed to acquire all of the outstanding common shares of Chinook ('Chinook Shares') for cash consideration of $ 0.0675 per share (the 'Share Consideration').

The Share Consideration represents a 33% premium over the twenty da...