Petroamerica Oil Corp. Announces Vertical Amalgamation with Subsidiaries
January 04 2016 - 6:20PM
PR Newswire (Canada)
CALGARY, Jan. 4, 2016 /CNW/ - Petroamerica Oil Corp.
("Petroamerica") (TSX-V: PTA), an international oil and gas
company operating in Colombia, is
pleased to announce that it has completed a vertical amalgamation
(the "Vertical Amalgamation") with its wholly-owned
subsidiaries, Aries Exploration Corp., Petroamerica Inc. and
Petroamerica International Corp. (the "Subsidiaries")
pursuant to subsection 184(1) of the Business Corporations
Act (Alberta) (the
"ABCA"). Each of the Subsidiaries is a private company
incorporated under the ABCA. The Vertical Amalgamation did
not require shareholder approval and was completed to simplify the
corporate structure of Petroamerica. No securities were
issued in connection with the Vertical Amalgamation. The shares of
the Subsidiaries were cancelled without any repayment of capital in
respect of them.
About Petroamerica:
Petroamerica Oil Corp. is a Canadian oil and gas exploration and
production company with interests in fifteen blocks, located in
Colombia's Llanos and Putumayo
Basins. Petroamerica's shares are listed on the TSX Venture
Exchange under the symbol "PTA".
SOURCE Petroamerica Oil Corp.
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