Tamarack Valley Energy Ltd. (TSXV: TVE) announced Oct. 9 the successful completion of a previously announced acquisition of all outstanding shares of Sure Energy Inc.
Former holders of the common shares of Sure Energy received about 16.5 million common shares of Tamarack. Tamarack has roughly 46.2 million common shares outstanding.
The deal, announced in August, said the acquisition would total C $50.3 million, including C $32 million in debt.
The common shares of Sure Energy are expected to be delisted from the Toronto Stock Exchange at the close of markets by Oct. 15.
Tamarack Valley Energy Ltd. is an independent energy company engaged in the identification, evaluation, and operation of resource plays in the western Canadian sedimentary basin. The company is based in Calgary.