CALGARY, Alberta, March 24, 2016 /PRNewswire/ -- Oando Energy Resources Inc. ("OER" or the "Company") (OER.TO) announces that the outside date under OER's previously announced proposed plan of arrangement (the "Arrangement") with Oando PLC and Oando E&P Holdings Limited (the "Purchaser") has been extended to April 29, 2016 in order for the parties to obtain certain outstanding lender consents.
The material conditions precedent to completion of the Arrangement have been satisfied, including the final order of the Supreme Court of British Columbia which was issued on February 26, 2016.
Full details regarding the terms of the Arrangement are set out in OER's management information circular dated January 19, 2016.
Copies of the arrangement agreement, the management information circular and certain related documents have been filed with Canadian securities regulators and are available under the Company's profile on the Canadian SEDAR website
