Skope Energy Inc. (Toronto: SKL) announced that it has signed a letter of intent with an arm's length third party for a consensual recapitalization of the company. The final terms of the recapitalization, including the level of dilution on existing shareholders and the future liquidity of the company's shares, are dependent on various matters including regulatory approval.
Closing of the recapitalization is expected to occur by late October 2012. However, closing is subject to a number of conditions including, among other things, finalization of definitive documentation, completion of satisfactory due diligence, and receipt of all necessary regulatory and third party approvals.
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