JMAC Energy Services LLC entered into a definitive arrangement agreement to acquire remaining 80.3% stake in Athabasca Minerals Inc. for CAD 11.5 million.
The transaction is subject to approval of Athabasca shareholders, receipt of court approval and certain regulatory approvals. Athabasca board of directors unanimously approved the transaction. Canaccord Genuity Corp. is acting as financial advisor to Athabasca. Evans & Evans, Inc. acted as fairness opinion provider to the special committee of Athabasca. Fasken Martineau DuMoulin LLP acted as legal advisor to Athabasca Minerals Inc.