"We are extremely pleased to have concluded this important acquisition for Sonoran Energy," said Peter Rosenthal, Sonoran Energy President and CEO. "While the completion of the acquisition has taken longer than expected, we can now announce that the final terms have been satisfied and we are moving forward on developing the many opportunities that Baron Oil brings to the Company."
Baron Oil Shareholders will receive 19,026,514 shares of Sonoran Energy restricted common stock in exchange for their shares in Baron Oil as consideration for the acquisition.
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