Jura Energy to Acquire Pakistani Oil & Gas Firm as Part of Broader Re-Organization
Jura Energy Corp (JEC.TO) is up 80% this morning, with shares adding 2 cents to reach 4.5 cents each after announcing a deal to acquire a privately held oil and gas company in Pakistan as part of a broader reorganization and recapitalization package for the struggling firm.
Jura also is planning a 10-for-1 reverse split of its stock and will issue nearly 50.7 million post-consolidation shares to Eastern Petroleum Limited, a private investment company based in the Republic of Mauritius, in exchange for Spud Energy Pty Ltd. Jura also will sell additional stock to raise at least $5 million in working capital.
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