12/18/2023 0 Comments Venture seas public release![]() ![]() ![]() Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.ĬAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release. Trading in the securities of a capital pool company should be considered highly speculative 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. There can be no assurance that the Transaction will be completed as proposed or at all. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. ![]() The Company gives notice that pending the results of the 33 rd Offshore Oil and Gas Licensing Round, the terms of the Transaction may be revised.Īll information in this press release relating to Quattro has been provided by Quattro and is the sole responsibility of Quattro.Ĭompletion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Jesmond will issue additional news releases related to the Transaction, any future concurrent financings and other material information as it becomes available. Given this timeline, and the state of the current markets, the Company has determined that it is prudent to pause the Transaction pending the outcome of the awards, and agree to the extension for completion of the Transaction because it remains optimistic about the oil and gas sector and its future, and about the ability of Quattro to build a portfolio of international oil and gas producing assets, with its initial focus on the United Kingdom North Sea.Īs a result of the foregoing, the Company also announces that the previously announced non-brokered private placements (see the Company's Februpress release) that were to be completed in connection with the Transaction will not be completed as proposed. ![]() Should any potential block awards be made to Quattro by the UK regulatory body, Quattro expects that they would be awarded in the next 60 days. (TSXV: JES.P) (" Jesmond" or the " Company") announces that further to the Company's previously announced "Qualifying Transaction" (the " Transaction") pursuant to the policies of the TSX Venture Exchange (the " Exchange"), to acquire Quattro Energy Limited (" Quattro"), the Company has agreed with Quattro to extend the date for completion of the Transaction to March 29, 2024.Īs previously announced, Quattro has made an application as "Operator" on a 100% basis for certain blocks that have been made available within the United Kingdom's 33 rd Offshore Oil and Gas Licensing Round, considered by Quattro as strategic in nature. ![]()
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