Pacific Arc Resources Enters into Letter of Intent for a Reverse Takeover Transaction with RocketFrac Cleantech
Pacific Arc Resources Enters into Letter of Intent for a Reverse Takeover Transaction with RocketFrac Cleantech
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2022) - Pacific Arc Resources Ltd (TSXV: PAV) ("Pacific Arc" and/or the "Company"), is pleased to announce that it has entered into letter of intent dated March 16, 2022 (the "LOI") with RocketFrac Services Ltd. ("RocketFrac Cleantech"), an innovative energy service company developing technologies to boost reservoir production with a lower environmental footprint. The LOI outlines the general terms and conditions of a proposed business combination, which would result in RocketFrac Cleantech becoming a wholly-owned subsidiary of the Company (the "Proposed Transaction").
温哥华,不列颠哥伦比亚省-(Newsfile Corp.-2022年3月23日)-Pacific Arc Resources Ltd(多伦多证券交易所股票代码:PAV)(以下称“Pacific Arc”及/或“公司”)今日欣然宣布,该公司已与RocketFrac Services Ltd.(“RocketFrac Cleantech”)签署了于2022年3月16日(“意向书”)的意向书,RocketFrac Cleantech是一家创新能源服务公司,开发技术,以更低的环境足迹提高水库产量。意向书概述了拟议业务合并的一般条款和条件,该合并将导致RocketFrac Cleantech成为本公司的全资子公司(“拟议交易”)。
Completion of the Proposed Transaction is subject to customary terms and conditions as set forth in the LOI including, but not limited to: the satisfactory completion of due diligence; the successful negotiation and execution of a definitive agreement for the Proposed Transaction (the "Definitive Agreement"); shareholder and applicable stock exchange approvals, the performance of any closing conditions; and other conditions typical for similar transactions.
建议交易的完成受制于意向书所载的惯常条款及条件,包括但不限于:尽职调查的圆满完成;建议交易的最终协议(“最终协议”)的成功谈判及执行;股东及适用证券交易所的批准;任何成交条件的履行;以及类似交易的其他典型条件。
In connection with the signing of the LOI, trading in the common shares of Pacific Arc have halted from trading. Trading is expected to remain halted until the completion or termination of the Proposed Transaction.
与意向书的签署有关,Pacific Arc的普通股已经停止交易。预计交易将保持暂停状态,直到拟议的交易完成或终止。
The proposed terms of the Proposed Transaction are subject to change as due diligence and negotiations progress between the parties. A comprehensive press release with further particulars relating to the Proposed Transaction will be issued in connection with the parties entering into the Definitive Agreement. There is no assurance that the Proposed Transaction will be completed as proposed or at all.
拟议交易的拟议条款可能会随着各方之间的尽职调查和谈判进展而发生变化。关于签订最终协议的各方,将发布一份全面的新闻稿,其中包括与拟议交易有关的进一步细节。无法保证拟议的交易将按拟议的那样完成,或者根本不能保证。
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Pacific Arc should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
交易的完成受制于若干条件,包括但不限于交易所接受,以及(如适用)无利害关系的股东批准。在适用的情况下,在获得所需的股东批准之前,交易无法完成。不能保证这笔交易将按计划完成,或者根本不能保证。投资者请注意,除非在与交易相关的管理信息通告或备案声明中披露,否则所发布或收到的有关交易的任何信息都可能不准确或不完整,不应依赖。太平洋弧线的证券交易应该被认为是高度投机的。多伦多证券交易所创业板交易所公司没有以任何方式传递拟议交易的优点,也没有批准或不批准本新闻稿的内容。
About RocketFrac Cleantech
关于RocketFrac Cleantech
RocketFrac Cleantech is an innovative energy service company developing technologies to boost reservoir production with a lower environmental footprint. By eliminating the need to use fresh water in the fracking process, RocketFrac Cleantech's patent-pending proprietary technology conserves this precious resource, while lowering greenhouse gas emissions, and improving operational efficiency. This pioneering approach respects Environment, Social and Governance (ESG) commitments, while contributing to critical energy independence needs around the world.
RocketFrac Cleantech是一家创新的能源服务公司,开发技术以更低的环境足迹提高油藏产量。通过消除水力压裂过程中使用淡水的需要,RocketFrac Cleantech正在申请专利的技术节省了这一宝贵的资源,同时减少了温室气体排放,并提高了运营效率。这一开创性的方法尊重环境、社会和治理(ESG)承诺,同时有助于满足世界各地的关键能源独立需求。
Founded in 2017, RocketFrac Cleantech is guided by experienced energy sector experts. Leadership includes CEO Tom Whalen, former President and Managing Director of Baker Hughes Canada, CTO Pavan Elapavuluri, formerly of Schlumberger, and The Honorable Ronald R. Spoehel, Chairman, formerly of NASA.
RocketFrac Cleantech成立于2017年,由经验丰富的能源行业专家指导。公司领导层包括贝克休斯加拿大公司前总裁兼总经理董事首席执行官汤姆·惠伦、斯伦贝谢公司前首席技术官Pavan Elapavuluri以及美国国家航空航天局前主席Ronald R.Spoehel阁下。
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
本新闻稿不构成在美国出售或邀请购买任何证券的要约。这些证券没有也不会根据修订后的《1933年美国证券法》(下称《美国证券法》)或任何州证券法进行注册,除非根据《美国证券法》和适用的州证券法进行注册,或者获得此类注册豁免,否则不得在美国境内或为美国个人的账户或利益进行发行或销售。
ON BEHALF OF THE BOARD OF DIRECTORS
PACIFIC ARC RESOURCES LTD.
我代表董事会
太平洋ARC资源有限公司。
For further information, please contact:
John MacPhail, President, CEO & Director
Phone: (778) 688-7411
如需更多信息,请联系:
董事总裁兼首席执行官约翰·麦克菲尔
电话:(778)688-7411
Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
不得分发给美国通讯社或在美国境内传播。本新闻稿不构成在美国出售或邀请购买任何证券的要约。这些证券没有也不会根据修订后的《1933年美国证券法》(以下简称《美国证券法》)或任何州证券法进行登记,除非根据《美国证券法》和适用的州证券法登记,或获得此类登记豁免,否则不得在美国境内或向美国公民发行或出售证券。
Notice on Forward-Looking Information
关于前瞻性信息的通知
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning the Proposed Transaction, the proposed structure by which the Proposed Transaction is to be completed, the ability of the Company and RocketFrac Cleantech to meet the conditions of the Proposed Transaction in the required timeframes, obtaining the necessary shareholder, board, exchange or regulatory approvals, including certain financial information and forecasts. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company and RocketFrac Cleantech, including expectations and assumptions concerning the Company, RocketFrac Cleantech, the Proposed Transaction, the negotiation of the Definitive Agreement on satisfactory terms, the timely receipt of all required shareholder, court and regulatory approvals (as applicable), including the acceptance of the TSXV, and the satisfaction of other closing conditions in accordance with the terms of the Definitive Agreement. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
本新闻稿包含适用证券法定义的前瞻性陈述和前瞻性信息(统称为“前瞻性陈述”)。本新闻稿中包含的任何非历史事实的陈述均可被视为前瞻性陈述。前瞻性表述通常使用诸如“可能”、“应该”、“预期”、“将”、“估计”、“相信”、“打算”、“预期”以及类似的表述来确定前瞻性表述。更具体地说,但不限于,本新闻稿包含有关拟议交易、完成拟议交易的拟议结构、公司和RocketFrac Cleantech在所需时间框架内满足拟议交易条件、获得必要的股东、董事会、交易所或监管机构批准的能力的前瞻性陈述,包括某些财务信息和预测。本公司告诫,所有前瞻性陈述本质上都是不确定的,实际业绩可能会受到许多重大因素、假设和预期的影响,其中许多因素是本公司和RocketFrac Cleantech无法控制的,包括对公司、RocketFrac Cleantech、拟议交易、以令人满意的条款谈判最终协议、及时收到所有必需的股东、法院和监管机构批准(如适用)的预期和假设,包括接受TSXV, 以及根据最终协议的条款满足其他成交条件。提醒读者,在编制任何前瞻性陈述时使用的假设可能被证明是不正确的。由于许多已知和未知的风险、不确定性和其他因素,其中许多是公司无法控制的,事件或情况可能会导致实际结果与预测的结果大不相同。提醒读者不要过度依赖任何前瞻性陈述。这些信息虽然在准备时被管理层认为是合理的,但可能被证明是不正确的,实际结果可能与预期的大不相同。本新闻稿中包含的前瞻性陈述明确地受到本警示性声明的限制。本新闻稿中包含的前瞻性陈述是截至本新闻稿发布之日作出的,除非证券法明确要求,否则公司不承担公开更新或修改任何包含的前瞻性陈述的义务,无论是由于新信息、未来事件还是其他原因。
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多伦多证券交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任.
Not for distribution to U.S. news wire services or for dissemination in the United States.
不分发给美国新闻通讯社或在美国传播。
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问