Dialog Systems Pte. Ltd. completed the acquisition of Pan Orient Energy Corp. from Gulf Overseas Investment Trading Corp and others.
The transaction must be approved by Pan Orient shareholders, the Court of Queen's Bench of Alberta, exercise Dissent Rights, Pan Orient shall have no more than 49,793,907 Shares; 2,865,000 Options and 339,998 RSUs outstanding, the TSX Venture Exchange, and, conditional approval of the listing of the CanAsia shares by TSXV. The directors of Pan Orient unanimously approved the transaction. As of August 23, 2022, Pan Orient shareholders approved the transaction. Completion of the Arrangement is subject to certain conditions, including final approval of the Court of Queen's Bench of Alberta and delisting of the Pan Orient shares and listing of the CanAsia shares by the TSXV. The transaction is expected to be completed in mid to late August 2022. As of August 10, 2022, the transaction is expected to close on August 25, 2022. Mackie Research Capital Corporation is the fairness opinion provider and financial advisor to Pan Orient. Richard Nelson of King & Spalding (Singapore) LLP and Burnet, Duckworth & Palmer LLP acted as legal advisors to Dialog Systems (Asia) Pte. Ltd. Bennett Jones LLP acted as legal advisor to Pan Orient Energy. Computershare Trust Company of Canada acted as transfer agent and registrar of Pan Orient Energy.
Dialog Systems (Asia) Pte. Ltd. completed the acquisition of Pan Orient Energy Corp. (TSXV:POE) from Gulf Overseas Investment Trading Corp and others on August 25, 2022. The transaction was approved by the Court of Queen's Bench of Alberta on August 24, 2022. Trading in Pan Orient shares on the TSXV was halted and will remain halted until the shares are delisted from the TSXV, expected at the close of trading on August 26, 2022.