tiprankstipranks
Petrox Resources Prepares for Strategic Bio-energy Acquisition
Company Announcements

Petrox Resources Prepares for Strategic Bio-energy Acquisition

Petrox Resources (TSE:PTC) has released an update.

Don't Miss Our Christmas Offers:

Petrox Resources Corp. is set to acquire SSGE Bio-energy Company Limited, a Hong Kong-based firm with a significant bio-coal production capacity in Myanmar and 56 patents in sustainable energy. This strategic move, considered a reverse takeover, will result in the issuance of Petrox shares to SSGE shareholders and the subsequent replacement of Petrox’s board of directors with nominees from SSGE. In preparation for the acquisition, Petrox will spin off its oil operations into a new entity and distribute its shares to current shareholders, subject to necessary approvals.

For further insights into TSE:PTC stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskPetrox Resources Extends Deadline for SSGE Acquisition
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App