Hansar Energy Corp. cancelled the acquisition of PrimeWest Exploration Inc. in a reverse merger transaction.
The current Directors and Officers of the PrimeWest, with the exception of Victor Luhowy, will resign and be replaced by the existing management team and Board of Directors of Hansar. Dvorkin and Chapman, currently Directors of the PrimeWest, will be retained as advisors and consultants. Andrew Watts will become the President, Chief Executive Officer and Director of PrimeWest. Michael Palmer will become the Vice President of Operations of PrimeWest. Daryn Gordon will become the Chief Financial Officer of PrimeWest, while Chris Barton will become the Vice President of Exploration. Paul Baay, Wayne Henuset, Trevor Mitzel will become the Directors of PrimeWest. Doug McCartney will become the Corporate Secretary of PrimeWest.
The transaction is subject to a closing of the private placement, the satisfaction of the PrimeWest and of Hansar in respect of due diligence investigations, the completion of the consolidation and name change, the completion of a definitive agreement, approval from stock exchange acceptance, shareholders approval and Director approval.
Hansar Energy Corp. cancelled the acquisition of PrimeWest Exploration Inc. in a reverse merger transaction on March 5, 2013. Effective March 4, 2013, the name of PrimeWest Exploration will be changed to Antler Hill Oil & Gas Ltd. The new trading symbol will be AHO.H.