Petroleum Africa
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Sunday, September 20, 2015
Candax Energy, currently listed on the TSX, is going private. The company reported that it has entered into an arrangement agreement with its majority shareholder, Geofinance N.V. The deal has Geofinance taking Candax private pursuant to a statutory plan of arrangement.
Geofinance owns approximately 80.7% of the issued and outstanding common shares in the capital of the company and will acquire under the arrangement all of the shares that it does not already own at Cdn. $0.002 per share in cash.
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