Resaca Exploitation announced that the board of directors of Resaca is actively involved in ongoing discussions with Cano Petroleum regarding alternative financing structures that would permit the consummation of the merger of the two companies.
While the Agreement and Plan of Merger previously entered into by Resaca and Cano remains in full force and effect, there can be no assurance that the merger will be consummated upon the same terms as originally agreed by the parties or at all. Resaca will provide a further update on the proposed merger in due course.
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