Frontier Energy Limited completed the acquisition of remaining 80% stake in Waroona Energy Inc..
Frontier Energy Limited (ASX:FHE) completed the acquisition of remaining 80% stake in Waroona Energy Inc. (TSXV:WHE) on December 14, 2023. Pursuant to the Arrangement, effective December 14, 2023, each holder of a Waroona common share (the ?Waroona Shares?) will receive 0.2342 of an ordinary share in the capital of Frontier in exchange for each whole Waroona Share held. The Waroona Shares are expected to be delisted from the TSX Venture Exchange and the OTCQB Venture Market at the close of trading on December 15, 2023. The Company will apply to cease to be a reporting issuer in all of the jurisdictions in Canada that the Company is currently a reporting issuer. The Arrangement was approved at a special meeting of shareholders of Waroona held on December 8, 2023, followed by the issuance of a final order approving the Arrangement from the Supreme Court of British Columbia on December 13, 2023. Computershare Investor Services acted as depositary and transfer agent to Waroona in the transaction. Red Cloud Securities, Inc. acted as fairness opinion provider to the special committee of Waroona Energy. Automic Registry Services Limited acted as trasnger agent and registrar to Frontier Energy in the transaction. Ernst & Young acted as auditor to Frontier in the transaction.