Equatorial purchases Resolute

Equatorial Energy Inc. signed an agreement with Resolute Energy Corp. (Resolute), a private oil and gas company, to purchase all Resolute issued and outstanding shares.

Equatorial Energy Inc. signed an agreement with Resolute Energy Corp. (Resolute), a private oil and gas company, to purchase all Resolute issued and outstanding shares. Consideration for each Resolute share is 1.85 Equatorial shares and 0.25 of an Equatorial warrant with an exercise price of $2.08 per warrant and a term of 42 months. The transaction is expected to close on June 14.

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