GEOCAN

AcronymDefinition
GEOCANGeomatics Canada - Géomatique Canada
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As a result of the completion of the arrangement agreement, GEOCAN is now a wholly-owned subsidiary of the company.
Following the Arrangement, GEOCAN will have, on a combined basis:
GEOCAN's existing heavy oil oriented asset base will be offset with comparable levels of medium and light oil and gas reserves and production, moving GEOCAN into the mainstream of high quality junior oil and gas companies
GEOCAN is acquiring proven plus probable reserves, based on a third party independent engineering report prepared in accordance with NI 51 101, of 3.
acted as exclusive financial advisor to GEOCAN with respect to this transaction and has advised the GEOCAN Board of Directors that it expects it will be in a position, subject to a review of the final form of documents, to provide an opinion that the consideration offered pursuant to the Arrangement is fair, from a financial point of view, to GEOCAN shareholders.
GEOCAN and Assure are Calgary, Alberta, Canada based crude oil and natural gas exploration, development, and production companies.