An announcement from InPlay Oil Corp. ( (TSE:IPO) ) is now available.
InPlay Oil Corp. announced that its shareholders have overwhelmingly approved the issuance of approximately 54.8 million common shares to Obsidian Energy Ltd. as part of the acquisition of certain oil and gas assets from Obsidian. This acquisition, which has received all necessary regulatory approvals, is expected to close shortly. Additionally, shareholders approved a consolidation of the company’s common shares, which is anticipated to occur within the next week. These strategic moves are expected to enhance InPlay’s operational capabilities and market positioning.
More about InPlay Oil Corp.
InPlay Oil Corp. is a junior oil and gas exploration and production company based in Alberta, focusing on light oil production. The company operates long-lived, low-decline properties with potential for drilling development and enhanced oil recovery, as well as undeveloped lands with exploration possibilities. Its shares are traded on the Toronto Stock Exchange under the symbol IPO and on the OTCQX Exchange under the symbol IPOOF.
YTD Price Performance: -7.74%
Average Trading Volume: 163,813
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$139.7M
For detailed information about IPO stock, go to TipRanks’ Stock Analysis page.