DALLAS--(BUSINESS WIRE)--Maple Resources Corporation based in Dallas, Texas (MRC) and the founder of Maple Energy plc in Peru announced that it has made an offer to Maple Energy, plc (“Maple Energy”) a company listed on the London Stock Exchange AIM and the Lima Bolsa de Valores to purchase its oil and gas assets for US$47.4 Million.
This offer represents no dilution to existing Maple Energy shareholders and provides Maple Energy with the capital to restructure its ethanol operations.
MRC also offered to lease 2,500 hectares of undeveloped land in the Maple Energy ethanol project under terms to be agreed upon. It is in active discussions to partner with recognised sugar cane estate operators.
MRC believes that its offer represents the best solution for the company and expects it to be submitted to the shareholders along with any other offers.
MRC made its offer on October 8, 2014 and was told by Maple Energy on October 9, 2014 that the Board of Directors had considered another offer. MRC is seeking clarifications from Maple Energy as to the conditions linked to this offer such as the several contingencies tied to the bank syndicate debt restructuring of Maple Energy.
Investor and Media Contact
Mr. Jack W. Hanks
Maple Resources Corporation
T:
+1.855.880.0400
jwhanks@maplecos.com