March 28, 2018 / 2:15 AM / 8 months ago

BRIEF-Cona Resources enters into arrangement agreement with Waterous Energy Fund

March 27 (Reuters) - Cona Resources Ltd:

* ENTERS INTO ARRANGEMENT AGREEMENT WITH WATEROUS ENERGY FUND

* ‍UNDER TERMS OF ARRANGEMENT SHAREHOLDERS OF CONA, OTHER THAN WEF, WILL BE ENTITLED TO RECEIVE $2.55 IN CASH PER COMMON SHARE​

* WEF HAS INFORMED CONA THAT IT DOES NOT INTEND TO SELL ANY OF ITS INTEREST IN CONA AT THIS TIME.

* AGREEMENT WITH CERTAIN AFFILIATES OF WEF WHEREBY WEF WOULD ACQUIRE ALL OF COMMON SHARES OF CONA NOT CURRENTLY OWNED BY WEF

* ARRANGEMENT AGREEMENT ALSO INCLUDES CUSTOMARY DEAL PROTECTION TERMS, INCLUDING RIGHT TO MATCH ANY SUPERIOR PROPOSAL IN FAVOUR OF WEF

* ‍IF ARRANGEMENT IS COMPLETED, ALL OF COMMON SHARES WILL BE HELD BY WEF AND CONA WILL BE DE-LISTED FROM TORONTO STOCK EXCHANGE​ Source text for Eikon: Further company coverage:

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