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ProStar Holdings Inc. Announces Closing of Merger Transaction
December 30, 2020 GMT
ProStar Holdings Inc. (formerly Doxa Energy Ltd.) (TSXV:DXA) (the ”
Company ”) is pleased to announce that pursuant to the merger agreement dated May 22, 2019, (the “
Merger Agreement ”) between the Company, ProStar Geocorp, Inc. (“
ProStar ”), and Doxa Merger Corp. (“
Doxa SubCo ”), the Company completed its previously announced merger transaction with ProStar (the “
Transaction ”).
The Company will continue to carry on the business of ProStar and the common shares of the Company (the “
Shares ”) are expected to begin trading as a Tier 2 Technology Issuer on the TSX Venture Exchange (“
The Transaction is expected to close on December 28, 2020.
Doxa Energy Ltd (“Doxa” or the “Company”) announces that further to its press release dated November 20, 2020, and its proposed Reverse Take-Over (RTO) by ProStar Geocorp. Inc. (the “Transaction”), the Company’s shareholders have, as of December 17, 2020, approved the Transaction and the matters associated with the Transaction, including the disposition of the Company’s oil and gas assets and a debt settlement with the Company’s related party creditors.
The Transaction is expected to close on December 28, 2020, with Doxa changing its name to “ProStar Holdings Inc.” in connection therewith (the “Resulting Issuer”) with trading in the Company’s common shares re-commencing in January 2021 under the new trading symbol MAPS.