Novus Energy Inc. (NVS.V) and Ammonite Energy Ltd. (AMO.V) announced the closing of the acquisition by Novus of all of the issued and outstanding common shares of Ammonite by way of a plan of arrangement. The Ammonite Shares are to be de-listed from the TSX Venture Exchange pending final approval of the TSXV.
Ammonite Shareholders are entitled to receive 0.825 of a common share of Novus for each Ammonite Share held.
The total purchase price paid by Novus pursuant to the Arrangement was approximately C$23.2 million, comprised of C$22.3 million of equity value and the assumption of C$0.9 million of net debt.
Novus stated that the gross proceeds of C$30.03 million have been released from escrow to Novus pursuant to the terms of its subscription receipts financing, which closed on November 24.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.