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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
C&C Energia Ltd. is acquired by Pacific Rubiales Energy Corp.

TORONTO, Dec. 31, 2012 /PRNewswire/ - C&C Energia Ltd. (C&C Energia) is pleased to announce that today Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) (Pacific Rubiales) closed the acquisition of C&C Energia by way of plan of arrangement (the Arrangement).

With the completion of the Arrangement, Pacific Rubiales has acquired all of the issued and outstanding shares of C&C Energia and each share of C&C Energia has been exchanged for 0.3528 common shares of Pacific Rubiales, Cdn.$0.001 cash and one common share of a new exploration company, Platino Energy Corp. (TSXV: PZE).

The shares of C&C Energia are expected to be delisted from the Toronto Stock Exchange on or about January 3, 2013.

Advisories

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements and information concerning the anticipated date of the delisting of the shares of C&C Energia from the Toronto Stock Exchange.  C&C Energia has provided this anticipated date in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the timing of receipt of the necessary regulatory approvals.  This date may change for a number of reasons, including the inability to secure necessary regulatory approvals in the time assumed or the need for additional time to secure such approvals.  Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release concerning the time for the delisting of the shares of C&C Energia from the Toronto Stock Exchange.

SOURCE Pacific Rubiales Energy Corp.

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Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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