Quatro Resources Acquires Berkana Energy
QUATRO RESOURCES INC. announced that over 90% of the issued and outstanding Class A common shares of Berkana Energy Corp. have been tendered to Quatro's previously announced offer to acquire all of the Berkana Shares. The Offer expired at 3:00 p.m. (Calgary time) on January 16, 2008 and Quatro has taken up and paid for all of the Berkana Shares deposited to the Offer on the basis of $1.96 in cash for every Berkana Share. Quatro has implemented procedures to acquire all remaining Berkana Shares pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta).
Quatro is taking immediate steps to have Berkana declared to be no longer a reporting issuer and to have the Berkana Shares de-listed from the Toronto Stock Exchange.