Beta Energy Corp. (OTCPK:BTAE.F) acquired Cardium Energy Corp. on April 5, 2022. In a related transaction, Beta Energy also acquired Harlow Ventures LP. Pursuant to an amalgamation agreement, all outstanding securities of Cardium were cancelled in exchange for securities of the company on a one-for-one basis. The company issued 36,000,100 common shares and 36,000,000 warrants, with each such Cardium warrant entitling the holder thereof to acquire one common share of the company. Out of the Cardium warrants, (i) 4,000,000 Cardium warrants are exercisable at CAD 0.25 until October 4, 2023, (ii) 12,000,000 Cardium warrants are exercisable at CAD 0.25 until November 5, 2023, and (iii) 20,000,000 Cardium warrants are exercisable at CAD 1.00 until December 10, 2024. Cardium Energy continued as a wholly-owned subsidiary of the company.

Beta Energy Corp. (OTCPK:BTAE.F) completed the acquisition of Cardium Energy Corp. on April 5, 2022.