WEF ) and its subsidiary WEF Osum Acquisition Corp. (the
Offeror ) are pleased to announce that each of the conditions to the offer dated November 4, 2020, as amended, to acquire up to 57,000,000 common shares (
Osum Shares ) of Osum Oil Sands Corp. (
Osum ) at a price of $3.00 per share (the
Offer ) have been satisfied, including the condition prescribed by applicable securities laws that more than 50% of the Osum Shares not owned by WEF be tendered to the Offer.
A total of 45,747,068 Osum Shares were deposited and not withdrawn at the initial expiry time under the Offer, representing approximately 34% of the issued and outstanding Osum Shares.
Waterous Energy Fund Improves its Cash Offer for Osum and Enters into Support Agreements with All Independent Directors and All Senior Executive Officers
News provided by
Share this article
WEF ) is pleased to announce that its subsidiary WEF Osum Acquisition Corp. (the
Offeror ) has improved its all-cash offer to acquire common shares (
Osum Shares ) of Osum Oil Sands Corp. (
Osum ). WEF has received the support of all three members of Osum s special committee of independent board members (
Special Committee ) and all five executive officers of Osum, including William Friley, Chairman of the Board of Directors, and Steve Spence, President and CEO of Osum.