Primeline Energy Holdings, Inc. (TSXV:PEH) agreed to acquire Primeline Petroleum Corporation from Victor Hwang in stock on May 11, 2015. The consideration for Primeline Petroleum Corporation shares and the shareholder loan will be satisfied by the issue of 44.67 million common shares of Primeline. For the year ended March 31, 2015, Primeline Petroleum Corporation had revenues of CNY 39.76 million, total assets of CNY 648.35 million, net loss of CNY 1.81 million and shareholder's equity of CNY 24.09 million. Primeline established a special committee of its independent directors for this deal. The transaction is subject to a fairness opinion via independent assessment, the conditional listing of the consideration shares on the TSX-V, approval of Toronto Stock Exchange and disinterested shareholders of Primeline Energy Holdings. The Board of Directors of Primeline have unanimously recommended that Primeline's shareholders vote in favor of the deal. An agreement was signed on June 26, 2015. The acquisition was approved by the disinterested shareholders of Primeline Energy on July 30, 2015. Completion of the transaction is expected in the second week of August. Andrew Raca of VSA Capital acted as financial advisor, Computershare Investor Services Inc. acted as registrar and Cathy Hume of chfir acted as PR advisor to Primeline Energy Holdings, Inc. Blair Franklin Capital Partners Inc. acted as financial advisor to Primeline's Special Committee.

Primeline Energy Holdings, Inc. (TSXV:PEH) completed the acquisition of Primeline Petroleum Corporation from Victor Hwang on August 14, 2015.