Petrox Announces Proposed Acquisition of M&L Renewable Technology International Ltd
Petrox Announces Proposed Acquisition of M&L Renewable Technology International Ltd
Calgary, Alberta--(Newsfile Corp. - December 18, 2023) - Petrox Resources Corp. (TSXV: PTC) ("Petrox") announces that it has entered into a non-binding letter of intent (the "LOI") dated December 14, 2023 to acquire all of the shares of M&L Renewable Technology International Ltd ("M&L"), a private Alberta corporation (the "Proposed Transaction").
艾伯塔省卡爾加里--(新聞文件公司-2023 年 12 月 18 日)- Petrox 資源公司 (TSXV: PTC) (”Petrox“) 宣佈已簽訂一份不具約束力的意向書(該”LOI“) 於 2023 年 12 月 14 日收購 M&L 可再生技術國際有限公司的所有股份 (”M&L“),艾伯塔省的一傢俬營公司(the”擬議的交易“)。
M&L is a private company incorporated under the laws of Alberta, Canada, on June 6, 2019. M&L, working alongside M&L Renewable Energy Group Ltd. ("MREG"), is pursuing the development of biochar production and power generation facilities. Initially, it plans to build a biochar facility with an annual production capacity of 3,650 tonnes (the "Biochar Plant") and a 1.58 MW power generation facility (the "Power Facility"), if feasible, for a total estimated capital investment of $5,728,000 ($3,473,000 for the biochar facility and $2,255,000 for the power generation facility) in Edmonton, Alberta (the "Project"). M&L is arm's length to Petrox. The Corporation had been inactive until it was reorganized in September 2023 and has only recently commenced operations. The Corporation intends to provide a comprehensive press release with respect to the Proposed Transaction after due diligence has been completed. Financial information with respect to M&L will be provided in the comprehensive press release.
M&L是一家根據加拿大艾伯塔省法律於2019年6月6日註冊成立的私營公司。M&L,與 M&L 可再生能源集團有限公司合作(”MREG“),正在尋求生物炭生產和發電設施的發展。最初,它計劃建造一座年產能爲3,650噸的生物炭設施(”生物炭廠“)和一個 1.58 兆瓦的發電設施(那個”電力設施“),如果可行,估計在艾伯塔省埃德蒙頓的總資本投資爲5,728,000美元(生物炭設施爲3,473,000美元,發電設施爲2,25.5萬美元)(”項目“)。M&L 與 Petrox 保持一定距離。該公司在2023年9月重組之前一直處於不活躍狀態,直到最近才開始運營。公司打算在盡職調查完成後,就擬議交易提供一份全面的新聞稿。有關併購的財務信息將在綜合新聞稿中提供。
Petrox and MREG previously entered into a Memorandum of Understanding dated September 5, 2023 with respect to their mutual cooperation on a biochar project (the "MOU"), which was announced by Petrox in its press release dated September 7, 2023. M&L is the successor in interest to MREG with respect to the biochar project and now holds the rights to the biochar project. The MOU was terminated concurrently with the execution of the LOI.
Petrox和MREG此前曾於2023年9月5日就生物炭項目相互合作簽訂了諒解備忘錄(“MOU“),這是Petrox在2023年9月7日的新聞稿中宣佈的。M&L是MREG在生物炭項目方面的權益繼承者,現在擁有該生物炭項目的權利。《諒解備忘錄》與《意向書》的執行同時終止。
In exchange for the shares of M&L, Petrox intends issue one post-Consolidation share in the share capital of Petrox at a deemed price of $0.10 per share for each share of M&L issued and outstanding at the closing of the Proposed Transaction contemplated herein ("Closing") including any shares issued pursuant to the M&L Private Placement and the Concurrent Private Placement (see below). Assuming the maximum amounts are raised under the M&L Private Placement and the Concurrent Private Placement, Petrox will issue an aggregate of 63,750,000 Common Shares pursuant to the Proposed Transaction, for a total purchase price of up to $6,375,000.
爲了換取M&L的股份,Petrox打算在本文所設想的擬議交易結束時以每股0.10美元的認定價格發行一股Petrox股本中的股份,每股M&L已發行和流通的股份(”關閉“)包括根據M&L私募配售和並行私募配售發行的任何股票(見下文)。假設在M&L私募和並行私募下籌集了最高金額,則Petrox將根據擬議交易共發行63,750,000股普通股,總收購價最高爲6,375,000美元。
It is proposed that Petrox will consolidate its issued and outstanding common shares on a 5:1 basis or such other basis as may be agreeable to the Parties having regard to the listing requirements of the Exchange (the "Consolidation"). The shares to be issued to M&L shareholders under the Proposed Transaction will be the shares of Petrox post-Consolidation. If the basis of the Consolidation changes from 5:1, the number of shares to be issued pursuant to the Proposed Transaction and Concurrent Private Placement (see below) will be adjusted accordingly. The shareholders of Petrox approved the consolidation of shares on a 5:1 basis at the meeting of the Petrox shareholders held on September 25, 2023.
有人提議,Petrox將在考慮到交易所的上市要求後,按照 5:1 或雙方可能同意的其他基礎合併其已發行和流通的普通股(“合併“)。根據擬議交易向M&L股東發行的股票將是合併後的Petrox股票。如果合併的基礎從 5:1 發生變化,則根據擬議交易和並行私募配售(見下文)發行的股票數量將相應調整。在2023年9月25日舉行的Petrox股東大會上,Petrox的股東批准了以 5:1 的比例合併股份。
M&L shall undertake two private placements. The initial private placement will be up to 33,500,000 Class "A" Common Shares in the share capital of M&L, at a price of $0.10 per share, for total gross proceeds of up to $3,350,000 (the "M&L Private Placement"), to fund the construction of the Biochar Plant and the Power Facility. It is intended that the M&L Private Placement will be completed prior to Closing and that the funds will be immediately available to M&L regardless of the completion of the Proposed Transaction.
M&L將進行兩次私募配售。首次私募將爲M&L股本中的33,500,000股 “A” 類普通股,價格爲每股0.10美元,總收益最高爲335萬美元(M&L 私募配售“),爲生物炭廠和發電設施的建設提供資金。計劃在收盤前完成M&L私募配售,無論擬議交易是否完成,資金都將立即提供給M&L。
The second private placement will be up to 16,500,000 Class "A" Common Shares at a price of $0.10 per common share, for gross proceeds of up to $1,650,000 (the "Concurrent Private Placement") which financing will close at, or immediately prior to, Closing.
第二次私募將爲最高16,500,000股 “A” 類普通股,價格爲每股普通股0.10美元,總收益最高爲165萬美元(同步私募配售“) 哪筆融資將在收盤時或緊接着收盤前完成。
100% of the net proceeds of both private placements are expected to be used to fund the construction of the Biochar Plant and the Power Plant and for working capital. Although the parties intend to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.
預計兩次私募淨收益的100%將用於資助生物炭廠和發電廠的建設以及營運資金。儘管雙方打算按上述方式使用本次發行的收益,但收益的實際分配可能與上述用途有所不同,具體取決於未來的業務、事件或機會。
It is intended that the board of directors of Petrox will be changed on Closing so as to be constituted by the nominees of M&L, provided that such change does not require a shareholders' meeting prior to the completion of the Proposed Transaction. Information with respect to the composition of the board of directors of Petrox post-Closing will be provided in Petrox's future comprehensive press release.
計劃在收盤時更換Petrox的董事會,由M&L的提名人組成,前提是此類變更不需要在擬議交易完成之前舉行股東大會。有關Petrox收盤後董事會組成的信息將在Petrox未來的綜合新聞稿中提供。
Post-Closing, it is intended that the current management of Petrox will continue to oversee the management of Petrox's current oil production property in Fletwode, Saskatchewan until such time as the property is divested, if and when so desired by the parties post-Closing.
收盤後,Petrox的現任管理層打算繼續監督Petrox目前位於薩斯喀徹溫省弗萊特沃德的石油生產物業的管理,直到收盤後雙方有意剝離該物業。
The Proposed Transaction is subject to a number of conditions including the satisfactory completion of Petrox's due diligence, completion of the M&L Private Placement and the Concurrent Private Placement and such approvals as may be necessary including approval of the shareholders and directors Petrox and M&L. The LOI will terminate on May 31, 2024, unless extended by the parties by mutual consent.
擬議交易需滿足多個條件,包括令人滿意地完成Petrox的盡職調查、M&L私募和並行私募的完成,以及必要的批准,包括股東和董事Petrox和M&L的批准。除非雙方經雙方同意,否則意向書將於2024年5月31日終止。
If completed, the Proposed Transaction will constitute a Reverse Takeover of Petrox under the policies of the TSX Venture Exchange (the "Exchange") and is, therefore, subject to Exchange review and approval. The foregoing terms of the Proposed Transaction outlined above are subject to change as a result of due diligence and Exchange review. If approved, upon Closing, Petrox will be listed on the Exchange as an Industrial or Technology or Life Sciences issuer.
如果完成,根據多倫多證券交易所風險交易所的政策,擬議交易將構成對Petrox的反向收購(”交換“),因此需要接受交易所的審查和批准。由於盡職調查和交易所審查,上述擬議交易的上述條款可能會發生變化。如果獲得批准,Petrox將在收盤時作爲工業或技術或生命科學發行人在交易所上市。
Currently, it is not expected that approval from the shareholders of Petrox will be required for the Proposed Transaction as the Proposed Transaction is not a Related Party Transaction under the policies of the Exchange. Petrox has active operations, Petrox is not and will not be subject to a cease trade order and will not otherwise be suspended from trading on completion of the Proposed Transaction, and because shareholder approval the Consolidation was previously obtained from the Petrox shareholders, shareholder approval will not be required for the Consolidation or any other aspect of the Proposed Transaction under applicable corporate or securities laws.
目前,預計擬議交易不需要Petrox股東的批准,因爲根據交易所的政策,擬議交易不是關聯方交易。Petrox業務活躍,Petrox沒有也不會受到停止交易令的約束,也不會在擬議交易完成後被暫停交易,而且由於合併先前已獲得Petrox股東的批准,因此根據適用的公司法或證券法,合併或擬議交易的任何其他方面無需股東批准。
About the Project
關於該項目
Alberta produces more than 20 million tonnes of waste biomass from agriculture, forestry and municipal sectors each year that could be used for bioenergy production. Properly utilized, this biomass resource could form the foundation for a vibrant industry that contributes positively to the economic and environmental wellbeing of Alberta. Waste biomass to power or fuel conversion technologies represent significant opportunities for Alberta to meet its renewable energy goal, create jobs and revitalize rural communities in a low carbon, circular economy.
艾伯塔省每年從農業、林業和市政部門產生超過2000萬噸的廢棄生物質,可用於生物能源生產。如果使用得當,這種生物質資源可以爲充滿活力的行業奠定基礎,爲艾伯塔省的經濟和環境福祉做出積極貢獻。廢棄生物質發電或燃料轉換技術爲艾伯塔省提供了在低碳循環經濟中實現其可再生能源目標、創造就業機會和振興農村社區的重大機遇。
The Project aims to establish a facility to convert wood waste into biochar, with any steam/heat produced as byproducts being utilized by net-zero waste and energy input greenhouses, power generation and other uses.
該項目旨在建立一個將木材廢物轉化爲生物炭的設施,將作爲副產品產生的任何蒸汽/熱量用於淨零廢物和能源輸入溫室、發電和其他用途。
About Biochar
關於生物炭
Biochar, a charcoal-like substance with more than 75% carbon, is produced from biomass through pyrolysis process. Used as soil amendment, it can enhance soil productivity by improving soil quality, promoting a healthy microbial community and improving aeration and water/nutrient retention. At the same time, biochar also plays a role in carbon storage, contributing to climate change mitigation. Beyond agriculture, biochar has found applications in water treatment, environmental restoration, and as an additive in the production of construction and engineering materials, such as cement, asphalt, and silicon materials.
生物炭是一種碳含量超過75%的類似木炭的物質,由生物質通過熱解過程產生。用作土壤改良劑,它可以通過改善土壤質量、促進健康的微生物群落以及改善通氣和水/養分保留來提高土壤生產力。同時,生物炭還在碳儲存中發揮作用,有助於緩解氣候變化。除農業外,生物炭還被應用於水處理、環境恢復,並作爲添加劑用於建築和工程材料(例如水泥、瀝青和硅材料)的生產。
About Petrox
關於 Petrox
Petrox is a publicly traded Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. Petrox currently has a production property in Fletwode, Saskatchewan that produces approximately 17 bbls/d.
Petrox是一家加拿大上市的初級石油和天然氣公司,從事加拿大西部盆地的石油和天然氣資源的勘探和開發。Petrox目前在薩斯喀徹溫省的弗萊特沃德擁有一處生產基地,產量約爲17桶/日。
The Common Shares of Petrox are listed and posted for trading on the TSX Venture Exchange under the trading symbol, "PTC".
Petrox的普通股在多倫多證券交易所風險交易所上市交易,交易代碼爲 “PTC”。
FOR FURTHER INFORMATION, PLEASE CONTACT:
欲了解更多信息,請聯繫:
Petrox Resources Corp.
Edwin Tam, President and CEO or Alan Chan, CFO
Telephone: (403) 270 - 2290
Facsimile: (403) 228 - 3013
Website:
Petrox 資源公司
總裁兼首席執行官譚德文或首席財務官陳啓倫
電話:(403) 270-2290
傳真:(403) 228-3013
網站:
Reader Advisory
讀者諮詢
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
交易的完成取決於許多條件,包括但不限於交易所的接受以及無利益股東的批准(如果適用)。在適用的情況下,在獲得所需的股東批准之前,交易無法完成。無法保證交易會按提議完成,也無法保證根本無法完成。
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Petrox should be considered highly speculative.
提醒投資者,除非在爲交易準備的管理信息通告或備案聲明中披露,否則發佈或收到的與交易有關的任何信息都可能不準確或不完整,不應作爲依據。Petrox證券的交易應被視爲高度投機性。
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
TSX Venture Exchange Inc. 絲毫沒有透露擬議交易的優點,也沒有批准或不批准本新聞稿的內容。
Forward-Looking Statements
前瞻性陳述
This press release contains forward-looking statements with respect to the Proposed Transaction and to the Project, the potential uses and utilization of biochar, and the possible building and development of one or more facilities for the Project. These forward-looking statements may relate to, among other things, forecasts or expectations regarding business outlook for Petrox and M&L, the requirements of the Exchange, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions, and can generally be identified by words such as "may", "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", "guidance", or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
本新聞稿包含有關擬議交易和項目、生物炭的潛在用途和利用以及可能爲該項目建造和開發一個或多個設施的前瞻性陳述。除其他外,這些前瞻性陳述可能涉及對Petrox和M&L業務前景的預測或預期、交易所的要求,還可能包括其他具有預測性質的陳述,也可能包括依賴或提及未來事件或狀況的陳述,通常可以用 “可能”、“將”、“預期”、“預期”、“打算”、“相信”、“相信”、“” 等詞語來識別估計”、“指導” 或類似的表達方式。此外,任何涉及對未來事件或情況的預期、預測或其他描述的陳述均爲前瞻性陳述。
Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Petrox. The reader is cautioned not to place undue reliance on any forward-looking information. Although such information is considered reasonable by management at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and Petrox do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
由於許多已知和未知的風險、不確定性和其他因素,其中許多因素是Petrox無法控制的,事件或情況可能會導致實際結果與預測結果存在重大差異。提醒讀者不要過分依賴任何前瞻性信息。儘管管理層在編寫時認爲這些信息是合理的,但可能被證明是不正確的,實際結果可能與預期的結果存在重大差異。本警示聲明明確限定了本新聞稿中包含的前瞻性陳述。本新聞稿中包含的前瞻性陳述自本新聞稿發佈之日起作出,除非法律要求,否則Petrox不承擔任何義務公開更新或修改所包含的任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因。
To view the source version of this press release, please visit
要查看本新聞稿的源版本,請訪問
譯文內容由第三人軟體翻譯。