Innovative Alert Systems, Inc. (Innovative) cancelled the acquisition of Antler Hill Oil & Gas Ltd. (TSXV:AHO.H) (Antler) in a reverse merger transaction.
The board of Amalco will consist of seven directors all of whom will be nominees of Innovative, namely, Frank Der, Allan Mar, Douglas M. Stuve, Victory Luhowy, Harris Dvorkin and two independent directors to be determined by Innovative. After the closing of the transaction, the officers of Amalco will be appointed by the Board of Directors of Amalco and will include Frank Der as President, Allan Mar as Chief Executive Officer, Dr. Henry Leung as Chief Technology Officer and Douglas M. Stuve as Corporate Secretary. The completion of the transaction is subject to the approval of TSX Venture, all other necessary regulatory approval, shareholder approval from both companies, completion of the private placement, satisfactory completion of due diligence reviews, execution of a definitive agreement, and board of directors approval of Antler and Innovative.
Innovative Alert Systems, Inc. (Innovative') cancelled the acquisition of Antler Hill Oil & Gas Ltd. (TSXV:AHO.H) (Antler') in a reverse merger transaction on November 24, 2015. Transaction cancelled due to continued weakness in junior equity markets. Antler Hill Oil & Gas Ltd. will continue identifying and evaluating other potential transactions.