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BC Court Approves Pacific Rubiales' Acquisition of PetroMagdalena Energy

PetroMagdalena Energy Corp. (PMD.V) said the Supreme Court of British Columbia has approved a plan of arrangement that will see Pacific Rubiales Energy Corp. (PRE.TO) acquire the company.

Under the arrangement, shareholders of PetroMagdalena will receive C$1.60 in cash for each outstanding share. In addition, holders of all of the outstanding PetroMagdalena warrants will receive C$0.25 in cash for each unexercised Warrant held at closing.

Closing of the deal is expected at the end of this week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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