On February 22, 2018, Desert Lion Energy Inc. (formerly Camex Energy Corp.) (the “Company”), completed a business combination with Desert Lion Energy Corp. (“Desert Lion”). Prior to the closing of the business combination, the Company changed its name to “Desert Lion Energy Inc.” and consolidated its common shares on a 12.0258:1 basis. The Company also continued from British Columbia into Ontario.
The business combination was completed by way of a three-cornered amalgamation, pursuant to which 2590945 Ontario Inc., a wholly owned subsidiary of the Company, amalgamated with Desert Lion to form a newly amalgamated company, which now holds Desert Lion’s assets as a wholly-owned subsidiary of the Company. Pursuant to the business combination, the Company acquired all of the issued and outstanding common shares of Desert Lion and issued to Desert Lion shareholders one post-consolidation common share of the Company for each common share of Desert Lion held.
The common shares of the Company began trading on the TSX Venture Exchange on February 26, 2018 under the symbol “DLI”.
Cassels Brock acted for Desert Lion with a team comprised of Jamie Litchen and Chad Podolsky (Securities and Mining), Chris Norton (Tax) and Kristin Taylor and Caitlin Russell (Employment).