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The company said that both parties will complete all agreements as soon as possible and that, SOGR, after completing all of the required public steps will issue new shares to the tendered shareholders, while those that did not tender their shares will remain TEDL shareholders after the closing.
10 September 2012 - US Saguaro Holdings Corp (PINK:SGUJ) said its fully-owned oil and gas recovery, remediation and treatment unit Saguaro Oil & Gas Recovery Inc (SOGR) had extended to 14 September from 31 August the deadline to complete the purchase of Canadian engineering design firm Tri-Eye Design Limited.
Under the LoI, SOGR will buy Tri Eye for 1.5m preferred shares to be priced at USD6.45 (EUR5.04) apiece, which could be converted into common stock subject to terms and conditions to be agreed.