The takeover bid is aimed at establishing a clear path to full ownership of Osum WEF intends to purchase the remainder of the common shares Osum in about three months. (Credit: skeeze from Pixabay) Canadian oil and gas private equity firm Waterous Energy Fund (WEF) intends to launch a take-over bid to increase its stake in Canada-based oil sands producer, Osum Oil Sands to 85%.As per the terms of the offer, Osum shareholders will receive $2.40 cash per share for each share tendered, implying a total transaction value of C$126m ($95.6m).Subject to signing of the deal, WEF will acquire a maximum of 52,500,000 of Osum’s outstanding common shares, representing approximately 40% of the outstanding common shares of Osum, establishing a clear path to full ownership of Osum.WEF currently owns approximately 45% stake in OsumWEF, which currently owns approximately 45% stake in Osum, will own a minimum of approximately 73% and a maximum of approximately 85% stake in Osum, if the offer is successful.Waterous Energy Fund CEO Adam Waterous said: “The proposed transaction provides immediate liquidity and certainty of value to Osum shareholders after 15 years without any dividends or prospects of accessing the public markets.“The $2.40 per share offer price represents the same price that WEF paid this past summer when we acquired our initial 45% interest in Osum from three highly sophisticated global financial institutions.“Osum shareholders should have confidence that fair market value for their shares has been established.”Moreover, WEF intends to purchase the remainder of the common shares Osum in about three months, if the takeover offer succeeds.The offer, which is expected to remain open until 24 February 2021, will be subject to certain conditions, including the receipt of necessary regulatory approvals, minimum tender condition, no occurrence of a material adverse effect, and other customary conditions.Osum Oil Sands is focused on the application of in situ recovery technologies within oil sands and carbonates in the North American country.Earlier this year, Waterous Energy Fund announced the combination of two of its portfolio companies Cona Resources and Strath Resources to form Strathcona Resources.
ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » As the saying goes, content is king. It seems this trend will continue this way for some time, as marketers notice ongoing impact on building awareness, increased customer engagement, as well as lead quantity and quality. However, the rise in demand from consumers eager for digital content also means that content marketing will become more competitive than ever. To stand out, marketers would do well to keep an eye on having a varied content mix, responding to shifts in customer attitudes and demands, and establishing solid, data-driven metrics that allow marketing teams to map customer behaviors and impact.On the agenda is the growing focus on changing up the old format. Blogs and social media remain the mainstay for many organizations, especially financial institutions, but innovators are looking toward channels that emphasize visual language, such as interactive content, live streaming, virtual reality, etc. In short, anything that is fast, iterative, engaging, and relevant.Content marketing is about to get very competitive, and in a world where your rivals may have much bigger budgets and larger marketing teams, you’ll need to stand out. Effective marketing can’t be done without a proper strategy, but you don’t necessarily need a detailed plan for every piece of content you put out. On-the-fly content is a great way to stop wasting time and seize your audience.
BEVERAGE Giant Banks DIH rode alongside the Jumbo Jet team for the Triple Crown event, set for tomorrow at the Rising Sun Turf Club (RSTC) in West Coast Berbice.The duo held a simple but significant press briefing at Banks DIH head office at Thirst Park, renewing their support by backing the second leg of the event.Present at the ceremony were Chairman of the race meet’s organising committee; Nasrudeen Mohamed Jr and Outdoor Events Manager of Banks DIH Mortimer Stewart, along with other representatives of the company.Mohamed expressed gratitude on behalf of the organisers, noting that good relationships with sponsors are needed as the Jumbo Jet Thoroughbred Racing Committee (JJTRC) looks to develop horse racing in Guyana significantly in the not-so-distant future.Tomorrow’s Triple Crown second leg will see the invasion of jockeys from Trinidad & Tobago as well as a commentator from the Twin-island Republic and the return of ‘Vera’s Finally’ that is undefeated at the RSTC.In addition, during an invited comment yesterday, Mohamed stated that the 2018 three-year-old horse-of-the-year, Not This Time, from Sophia, will be back in action.Almost 70 horses have been registered and it was disclosed by Mohamed Jr that the track is in good condition and it will maintain its standard once good weather prevails.Over $20M in cash and prizes are up grabs over the three legs of the Triple Crown event with the grand finale scheduled for Easter Sunday, April 21, at the Port Mourant Turf Club.Tomorrow’s feature race will attract a prize purse of almost $2M with the winner of that ‘C’ Class and Lower contest pocketing $1M. The winner of the three-year-old Guyana-bred race will pocket $400 000, ‘F’ Class winner $350 000, ‘H’ Class $300 000, ‘I’ Class $250 000, ‘J’ Class $230 000, ‘K’ Class $220 000, ‘L’ Class $200 000, ‘L’ Class and Lower $140 000.
Vice President Mike Pence also said he plans to attend the historic SpaceX launch at NASA’s Kennedy Space Center next week. President Donald Trump said Thursday that he may attend SpaceX rocket launch next week at NASA’s Kennedy Space Center.The test flight is set for May 27th, and it will l be the final test for SpaceX’s Crew Dragon spacecraft before it enters regular service.The mission will also mark the first time astronauts launch into orbit aboard a private company’s spacecraft, and would be the first manned space flight launched from the U.S. in almost nine years.“I’m thinking about going, that will be next week, to the rocket launch,” the President told reporters before leaving for a day trip to Michigan.He also playfully told reporters “I hope you’re all going to join me. I’d like to put you on the rocket, get rid of you for a while,” the President said.