Bocana Resources Ltd. completed the acquisition of United Hunter Oil & Gas Corp. in a reverse merger transaction.
Concurrent with the completion of the transaction, it is expected that other than Timothy J. Turner and Rodney Stevens, all directors and officers of United Hunter Oil & Gas will resign and the directors and officers of the Resulting Issuer will include Timothy J. Turner Chief Executive Officer, President and Director; Rodney Stevens - Independent Director; Christian Shomber - Independent Director; David Thompson Director; Miles Nagamatsu Chief Financial Officer and Director; and Dale Burstall Corporate Secretary. Following completion of the Business Combination, the current management and directors of Bocana will remain as directors of the Resulting Issuer. Additionally, Miles Nagamatsu will join the Resulting Issuer as Chief Financial Officer and Director, and Eldon C. Shomber will join the Resulting Issuer as a director. Dale Burstall will remain as Corporate Secretary of the Resulting Issuer. The transaction is subject to Bocana Resources Ltd. completing open private placement offering of up to 5 million shares to raise gross proceeds of up to CAD 0.5 million, final approval of TSX Venture Exchange, execution of the definitive agreement, approval of Directors of United Hunter Oil & Gas Corp. and Bocana Resources Ltd., satisfactory completion of due diligence, regulatory approval, approval of board of directors of United Hunter Oil & Gas and Bocana Resources, conversion of outstanding debts of CAD 307,886 into 5,131,433 common shares and the approval of the shareholders of United Hunter Oil & Gas Corp. and Bocana Resources. The Bocana Amalgamation Resolution and Bocana Continuance Resolution must be approved at the Bocana Meeting by at least 66?% of the votes cast by all Bocana Shareholders present in person or represented by proxy and entitled to vote at the Bocana Meeting. United Hunter Oil & Gas Corp. will be seeking majority of the minority approval of the transaction at a meeting of its shareholders. The board of directors of Bocana unanimously (Timothy J. Turner abstaining) recommends that Bocana Shareholders vote IN FAVOUR of the transaction. The meeting of shareholders of Bocana is also scheduled to be held on November 4, 2022, immediately after the UHO Meeting, at 10:30 a.m. (Calgary time) to approve the Amalgamation on behalf of Bocana Shareholders. As of October 6, 2022, the Exchange provided conditional approval of the Amalgamation. As of November 7, 2022, United Hunter Oil & Gas Corp. shareholders approved the transaction. The shareholders of Bocana also approved the transaction at their meeting of shareholders. The transaction is expected to close by November 30, 2020. As of November 25, 2020, the Board of Directors of the United Hunter Oil & Gas Corp. has approved extending the completion of the proposed transaction from November 30, 2020 to April 30, 2021. As of March 26, 2021, the transaction is expected to close in July 2021. Computershare Trust Company of Canada acted as transfer agent to UHO and Bocana shares.
Bocana Resources Ltd. completed the acquisition of United Hunter Oil & Gas Corp. (TSXV:UHO) in a reverse merger transaction on December 29, 2022. It is anticipated that the common shares in the capital of Bocana will commence trading on the TSXV under the symbol "BOCA" on or about January 5, 2022. Upon completion of the transaction, certain directors and officers of UHO resigned from their positions and the following individuals were appointed as directors and officers of Bocana: Timothy J. Turner Chief Executive Officer and Director, Miles Nagamatsu Chief Financial Officer and Director, David Thompson Director, Eldon C. Shomber Director, and Rodney Stevens Director.