Freestone Resources Inc. and Dynamis Energy LLC have signed a merger agreement under which Freestone and Dynamis will combine their businesses in an all-stock transaction.
Upon completion of the transaction, Dynamis shareholders are expected to own 75 percent of the new combined entity (not including its existing shares) and Freestone current shareholders will own 25 percent, based on an implied value of $0.195 per share for Freestone’s stock. The combined entity will have offices in Idaho and Texas and a joint management team to be announced. The transaction is expected to be nontaxable to Freestone and Dynamis shareholders.
For more information, visit www.Freestoneresources.com or www.dyna misenergy.com.