Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF) said its court-sanctioned acquisition of Challenger has cleared a key TSXV approval, allowing the deal to proceed.
The scheme of arrangement is expected to become effective on December 16, after which Challenger shareholders will receive new Sintana shares.
Trading in Challenger shares on AIM will be suspended on December 16 and cancelled the following day, with new Sintana shares set to begin trading on the TSXV on December 23.