|Date Announced:||May 22, 2018|
|Date Closed:||November 07, 2018|
|Client Name:||Velvet Energy Ltd.|
Under the terms of the Offer, Velvet proposed to acquire all of the issued and outstanding Common Shares of Iron Bridge for $0.75 in cash per Common Share.
Ultimately, on September 10, 2018, Velvet and Iron Bridge agreed to a friendly transaction with unanimous Iron Bridge Board support, wherein Velvet increased its cash consideration by 13% from $0.75 to $0.845 per Iron Bridge common share. The acquisition was completed on November 7, 2018.