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BRIEF-Pedevco terminates pending merger with GOM Holdings, enters into LoI with investor group
June 22, 2017 / 7:02 PM / 3 months ago

BRIEF-Pedevco terminates pending merger with GOM Holdings, enters into LoI with investor group

June 22 (Reuters) - Pedevco Corp

* Pedevco Corp - recently entered into a new non-binding letter of intent with a Hong Kong-based investor group

* Pedevco Corp - the investor group has expressed an interest in funding development of co’s oil and gas assets and restructuring the co’s debt

* Pedevco Corp says on June 22, Co terminated its pending merger with GOM Holdings LLC - SEC filing

* Pedevco Corp - has no further obligations or termination liabilities due or owing to GOM under GOM merger agreement as a result of termination

* Pedevco Corp - transactions contemplated in letter of intent, if consummated, may result in significant dilution to existing shareholders

* Pedevco Corp - Co and the investor group signed a non-binding term sheet which includes a binding 90-day no-shop period expiring in late August 2017

* Pedevco Corp - Terminated its pending merger with GOM holdings as Pedevco sees a more certain and favorable transaction with new investor group Source text: (bit.ly/2t0lHq9) Further company coverage:

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