Website - http://www.canextenergy.com/
Number Trading - 1,272,051
Expiration Date - June 29, 2006
Cusip - 13751P 11 6
Warrants called to trade news:
Canext Energy lists on the TSX-V
2006-06-08 15:29 MT - New Listing
Effective at the opening June 9, 2006, the common shares and warrants of Canext Energy Ltd. will commence trading on the TSX Venture Exchange. The company is classified as an oil and gas exploration and development company.
Pursuant to a plan of arrangement involving Canex Energy Inc., Crescent Point Energy Trust, 1238363 Alberta Ltd. and Crescent Point Resources Ltd., Canext acquired Canex's undeveloped properties and production of approximately 105 barrels of oil equivalent per day.
Pursuant to the arrangement and subject to the election below, a holder of Canex common shares is entitled to receive, in exchange for each Canex share, 58.76 cents cash, 0.1003 of a unit in the trust, one-half of a common share of the company and one-sixth of a share purchase warrant of the company. Each Canext warrant entitles the holder to acquire one Canext share for $1.00 per share until June 29, 2006. The arrangement also provides that Canex shareholders may elect immediately to exercise their Canext warrants as part of the arrangement, in which case, in exchange for each Canex share, they are entitled to receive 42.09 cents cash, 0.1003 of a trust unit and two-thirds of a Canext share.
In accordance with the arrangement and since a total of approximately 70.3 per cent of the Canex shareholders exercised their Canext warrants, a total of 15,899,797 Canext shares were distributed to Canex shareholders at a price or deemed price of $1.00 per share in proportion to their holdings of Canex shares on May 30, 2006. In addition, in accordance with the arrangement, 1,272,051 Canext warrants were distributed to Canex shareholders.
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