CALGARY, AB, June 6, 2022 /CNW/ – Pan Orient Energy Corp. (“Pan Orient“) (TSXV: POE) announced today that it has entered into an agreement to be acquired by a subsidiary of DIALOG Group Berhad (7277 – Bursa Malaysia) and for Pan Orient’s non-Thailand business to be transferred to CanAsia Energy Corp. (“CanAsia“), a new company to be owned by Pan Orient shareholders.
Pursuant to that agreement (the “Arrangement Agreement“), DIALOG Systems (Asia) Pte Ltd., a wholly-owned subsidiary of DIALOG Group Berhad, will acquire, through a newly-incorporated Alberta subsidiary (the “Purchaser“), all the outstanding shares of Pan Orient by way of a plan of arrangement under the Business Corporations Act (Alberta) (the “Arrangement“). A holder of a common share of Pan Orient will receive, for each such common share, cash consideration of USD $0.788 and one common share of CanAsia. The cash…
