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ID - PetroNor going public in combo with African Petroleum - March 2019
Privately held Africa-focused PetroNor E&P Ltd. is going public through a reverse merger with Oslo-listed African Petroleum Corp., creating a leading Africafocused E&P independent. The $102.35 million acquisition price consists of $98.85 million from 816 million shares in APC and the assumption of $3.5 million in net debt. PetroNor’s shareholders will own 84% of the combined company at closing, which is expected by the end of April, while existing APC shareholders will receive one for one warrants to preserve potential upside......
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